Instacart CEO Fidji Simo to step down, says new CEO to be announced ‘soon’

Instacart (CART) CEO and Chair Fidji Simo shared an with Instacart employees, which says, in part: “Hi team – I want to share an important update with you that I will be leaving Instacart in the coming months to take on a new role as CEO of OpenAI Applications, leading the product, business, and other company functions. Let me start by saying this was an incredibly hard decision because I love this company. We are operating incredibly well as our last earnings results have shown. Our strategy is working and this team is top notch, which makes it very hard to leave… I want to be clear that this change is not immediate. I’m not going anywhere for a couple of months. Our board regularly conducts succession planning exercises, and we expect the new CEO will be announced soon and will be an existing member of our management team. I’ll remain CEO and work closely with my successor and our leadership team to ensure a smooth handoff. I’ll also stay on as Chair of the Board to support our next CEO.”