In a statement, Shu, who founded the delivery aggregator in 2013 with Greg Orlowski, said it was ‘the right time to step down’ and that ‘great things lie ahead’ for the company.
Completion of the acquisition will also see multiple non-executive directors step down including Claudia Arney, Peter Jackson, Karen Jones, Rick Medlock, Shobie Ramakrishnan, Tom Stafford, and Dominique Reiniche.
He said: “I have decided that now is the right time for me to step down.
“Taking Deliveroo from being an idea to what it is today has been amazing. Today the company’s growth and profitability are accelerating, and we are delivering on our mission to transform the way people shop and eat, but after 13 years I want to contemplate my next challenge.
“I’m super proud of everything we have achieved. We pioneered and then redefined a new category.
“Our teams have always seen the business through the eyes of the consumer and that consumer obsession has given us focus, drive and resilience. I want to thank everyone involved in the Company, from our employees to our merchant partners, riders, consumers, as well as our investors.
“This is the start of a new chapter for the company and great things lie ahead.”
Back in February, Sky News reported that Shu was contemplating stepping down, which Deliveroo pushed back against.
In May it was announced that Deliveroo would be acquired by DoorDash in a deal worth £2.9bn.
Under the terms of the acquisition, each Deliveroo shareholder will be entitled to receive 180p in cash for each Deliveroo share held.
Deliveroo reported its first full year profit in its financial results for the year ended 31 December 2024.
Profit for the period was £3m, compared to a loss of £32m in 2023. Adjusted EBITDA rose 52% to £130m from £85m.
Commenting on Shu’s forthcoming departure, Deliveroo chair Claudia Arney said: “Will is an incredible innovator and has brought a unique mix of passion, vision and commitment to the creation and growth of Deliveroo.
“He has created a British success story that has had a hugely positive impact on the way we eat and shop, provided a new form of work for tens of thousands of people and helped thousands of restaurants and other merchants grow their businesses - both here and around the world.
“On behalf of the board, I want to thank Will for his remarkable contribution.”
Deliveroo said the acquisition continues to progress as anticipated and is expected to become effective on 2 October 2025.