Finance
Aspex Wants Delivery Hero CEO Out as Investor's Campaign Heats Up
Published by Global Banking & Finance Review®
Posted on March 24, 2026
2 min readLast updated: March 24, 2026
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Aspex Management, Delivery Hero’s second-largest shareholder (~9%), is ramping up pressure by calling for the removal of CEO Niklas Östberg and top management amid concerns over strategy, performance and compliance. Delivery Hero says a strategic review is ongoing.
Aspex Calls for Delivery Hero CEO Ouster as Investor Campaign Intensifies
Aspex Urges Leadership Change at Delivery Hero Amid Strategic Concerns
FRANKFURT, March 24 (Reuters) - Aspex, a top Delivery Hero shareholder, on Tuesday urged the online takeaway food group's supervisory board to oust the CEO and his top management team in an escalation of the investor's campaign for a change in strategic direction.
Aspex's Letter to Delivery Hero Supervisory Board
"Wholesale changes in the management team will be required to address issues faced by the company," Aspex Management said in a letter addressed to Delivery Hero Chair Kristin Skogen Lund and other members of the non-executive supervisory board, which was seen by Reuters.
Criticism of CEO Niklas Oestberg’s Strategy
"Fellow shareholders share our view that (CEO) Niklas Oestberg’s strategy is flawed, and that Delivery Hero’s operational underperformance against peers is accelerating," the letter said, adding that the company was to be heavily burdened by compliance and control failure.
Delivery Hero's Response to Aspex's Demands
Delivery Hero said it acknowledges the latest letter from Aspex.
Ongoing Strategic Review
"We are progressing with the strategic review and it remains an ongoing core focus of both the Management and Supervisory Board," the company said in a statement in response to the letter.
Reporting Credits
(Reporting by Alexander Huebner in Munich and Hakan Ersen in FrankfurtWriting by Ludwig BurgerEditing by Madeline Chambers)
Key Takeaways
- •Aspex holds close to 9% of Delivery Hero and is escalating its campaign by urging wholesale management changes, citing weakening operational performance and compliance issues. (brandsownedby.com)
- •The investor’s letter accuses CEO Niklas Östberg of flawed strategy amid accelerating underperformance versus peers and ongoing failures in controls. (akm.ru)
- •Delivery Hero acknowledges receipt of Aspex’s letter and confirms the strategic review remains a core focus for both management and the supervisory board. (investing.com)
References
Frequently Asked Questions about Aspex wants Delivery Hero CEO out as investor's campaign heats up
1Who is demanding changes in Delivery Hero’s management?
Aspex, a major shareholder in Delivery Hero, is calling for the removal of the CEO and top management team.
2What reason did Aspex give for seeking management changes at Delivery Hero?
Aspex cited flawed strategy and operational underperformance compared to peers, as well as compliance and control issues.
3How has Delivery Hero responded to Aspex’s letter?
Delivery Hero acknowledged Aspex’s concerns and stated that a strategic review is actively underway.
4Who is the current CEO of Delivery Hero?
Niklas Oestberg is the current CEO of Delivery Hero.
5What was the nature of Aspex’s communication to Delivery Hero's board?
Aspex sent a formal letter to the supervisory board, urging the removal of the CEO and a change in strategic direction.
