Delivery Hero's chief executive, Niklas Östberg, will remain in his role to steer the German food delivery group through its sale to Uber, reversing a departure plan announced four months ago under years of shareholder pressure.

The Berlin-based company said on Thursday that its co-founder will continue as CEO as it prepares to sell the majority of its business to Uber and strike a separate €1.4 billion deal with US investment firm SSW Partners.

Östberg had said in May that he would step down by March 2027. His exit plan was made under pressure from shareholders including activist investor Aspex Management. Aspex had pushed for Delivery Hero to streamline its sprawling operations, accelerate asset sales and replace its long-serving CEO. Aspex has since sold its stake to Uber.

Counting derivatives and a commitment from another major shareholder, Prosus, Uber has secured 53% of the German group. Prosus had previously been a long-time critic of the takeover.

Uber launched its formal offer in August, valuing Delivery Hero at about €13 billion, with the acceptance period running until November. Delivery Hero's management board and supervisory board have recommended that shareholders accept the offer.

Supervisory board chair Kristin Skogen Lund said: "Niklas created Delivery Hero and knows it better than anyone." "As the Uber and SSW deals move forward, we are delighted that Niklas will continue to lead the company into its next phase." Lund had defended Östberg in December against investor criticism over the company's weak share price performance.

Östberg said he was "more motivated than ever" to stay on, noting that growth and profitability have accelerated since the takeover was announced.

Östberg is known for withstanding shareholder pressure. In March, one Delivery Hero shareholder described Östberg as "like Teflon" because "nothing sticks to him," referring to his ability to shrug off criticism.

The acquisition will significantly expand Uber's delivery business, particularly in the Middle East and Asia, adding operations such as Talabat, Saudi Arabia's HungerStation and South Korea's Baemin. Uber had previously explored bidding for Baemin.

Ahead of the deal, Uber paused plans to launch delivery services in five European markets where Delivery Hero already operates, including Austria, Norway and Greece.

In a separate transaction designed to address overlaps between the two companies' businesses, SSW Partners has agreed to acquire parts of five Delivery Hero business units for €1.4 billion, including Foodora and Glovo operations in Poland, Portugal, Spain and Sweden — the four EU markets where Uber and Delivery Hero overlap.