As it completes its $7.3 billion merger with European delivery firm Just Eat Takeaway, Matt Maloney is leaving the CEO role of the company he co-founded in 2004.
Grubhub announced Tuesday that Maloney is joining Just Eat Takeaway’s management board, and current President and CFO Adam DeWitt is being promoted to the role of chief executive. Maloney’s transition positions him as one of four board executives running the combined company’s global business. He’ll have a specific focus on North America, the company said.
“The closing of the transaction with JET is an appropriate time for this management transition,” Maloney said in a statement. “As we enter the next chapter, both JET and Grubhub are well positioned and poised for further success, with a shared purpose in serving our restaurant partners.”
DeWitt joined Grubhub’s executive team in 2011, and has seen the company’s revenue grow from $20 million that year to now more than $2 billion.
“I’m honored to be the next CEO of Grubhub and ready to continue the great progress we’ve made over the past year in the U.S.,” DeWitt said. “We have a strong position in most large markets, the best team, and I am excited to join our partners at JET to build the leading global online ordering platform.”
The merger, officially completed Tuesday, gives JET its first presence in the United States. JET was created in 2020 when U.K.’s Just Eat and Netherlands-based Takeaway.com merged in an $11.1 billion deal.