Maplebear CEO Fidji Simo to Step Down to Join OpenAI

MT Newswires Live

05-08

Maplebear (CART) said in a filing Thursday that Chief Executive Fidji Simo plans to resign to pursue another opportunity.

Simo said in an open letter to Instacart employees he will transition from Instacart to join Microsoft-backed (MSFT) OpenAI's leadership as CEO of applications.

Maplebear said Simo will continue to serve as chair of the board, and an internal candidate is likely to succeed her in the CEO role.

The company also reiterated its Q2 and full-year financial outlook that was provided on an earnings call last Thursday.

Shares of the company were down 3.2% in recent trading.

Price: 44.29, Change: -1.44, Percent Change: -3.15

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