Delivery Hero chief executive Niklas Östberg will stay on to lead the food delivery group through its takeover by Uber, reversing plans announced four months ago to leave following years of shareholder pressure. The Berlin-based company said on Thursday that its co-founder would continue as chief executive as it prepares to sell most of its operations to Uber and a separate €1.4bn transaction with US investment firm SSW Partners.

Östberg said in May that he would leave by March 2027. His planned departure followed pressure from shareholders, including activist investor Aspex Management, which had pushed Delivery Hero to streamline its sprawling operations, accelerate asset sales and replace its long-serving chief executive. Aspex has since sold its stake to Uber. Including derivatives and commitments from another large shareholder, Prosus, which had long been critical of the takeover, Uber has already secured a 53 per cent stake in the German group.

The US company launched a formal takeover offer in August, valuing Delivery Hero at about €13bn. The acceptance period runs until November. Delivery Hero’s management and supervisory boards have recommended that shareholders accept the offer. Delivery Hero is preparing to sell most of its operations to Uber and a separate €1.4bn transaction with US investment firm SSW Partners.

“Niklas built Delivery Hero and knows it better than anyone,” said supervisory board chair Kristin Skogen Lund. “With the Uber and SSW transactions under way, we are delighted to have Niklas continue leading the company through the next phase.” Östberg said he had become “more energised than ever” to remain at the helm, pointing to accelerating growth and profitability since the takeover was announced.