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Yahoo
5 days ago
- Business
- Yahoo
Instacart names chief business officer as next CEO
This story was originally published on Grocery Dive. To receive daily news and insights, subscribe to our free daily Grocery Dive newsletter. Instacart announced Wednesday that Chief Business Officer Chris Rogers will become CEO, effective Aug. 15. He will replace Fidji Simo, who is stepping down from the top position to become CEO of OpenAI Applications but will remain chair of Instacart's board. Rogers will step into the top role after nearly six years with the grocery technology company, including around three years in his current role. Instacart positioned Rogers as a leader with decades of experience spanning consumer goods, technology, retail and media, noting that he has focused on 'driving growth at the intersection of brands, retailers, and technology' in his current role. In announcing Simo's upcoming departure from the CEO position, Instacart had said it would choose an existing member of the company's management team. Instacart's choice of Rogers as its next leader signals the company is continuing its strategy of bridging retailers, consumers and advertisers with technology-driven solutions. Rogers has seen Instacart's evolution both before and after Simo's arrival in 2021. He joined Instacart as vice president of global retail in 2019 after 11 years at Apple, where he served in a variety of roles, including head of consumer retail, head of carrier channel and managing director of Apple Canada. Prior to Apple, Rogers worked at Procter & Gamble as an account executive for several clients such as Loblaws, Sobeys and A&P, according to his LinkedIn profile. As chief business officer, Rogers has overseen the company's commercial operations, including retailer relationships and expansions, ad sales, mergers and acquisitions, Instacart Business and Instacart Health. Rogers currently sits on the board of data and analytics firm Spins and is a board member of the Ad Council, a nonprofit that helps launch public service campaigns addressing social issues. Rogers's ascension to the top role follows Instacart's work to establish itself as a leader in grocery technology and e-commerce 'Over the last four years, we've transformed Instacart into a growing, profitable, leading technology platform that's helping reshape the grocery industry,' Simo said in the announcement. 'We're building a generational company at the intersection of technology and food, and Chris is the right leader for our next chapter.' Simo 'really set up a foundation' for the company to continue achieving double-digit growth and building its e-grocery market leadership, CFO Emily Reuter said during the J.P. Morgan Global Technology, Media and Communications Conference earlier this month. 'The priorities remain the same, which is that we continue to be incredibly excited about the overall market opportunity, and really, our goal as the category leader … is to continue to drive online penetration,' she said at the conference. Recommended Reading Instacart CEO's exit won't shift company strategy, top exec says
Miami Herald
5 days ago
- Business
- Miami Herald
Instacart names chief business officer as next CEO
Dive Brief: Instacart announced Wednesday that Chief Business Officer Chris Rogers will become CEO, effective Aug. 15. He will replace Fidji Simo, who is stepping down from the top position to become CEO of OpenAI Applications but will remain chair of Instacart's will step into the top role after nearly six years with the grocery technology company, including around three years in his current role. Instacart positioned Rogers as a leader with decades of experience spanning consumer goods, technology, retail and media, noting that he has focused on "driving growth at the intersection of brands, retailers, and technology" in his current role. Dive Insight: In announcing Simo's upcoming departure from the CEO position, Instacart had said it would choose an existing member of the company's management team. Instacart's choice of Rogers as its next leader signals the company is continuing its strategy of bridging retailers, consumers and advertisers with technology-driven solutions. Rogers has seen Instacart's evolution both before and after Simo's arrival in 2021. He joined Instacart as vice president of global retail in 2019 after 11 years at Apple, where he served in a variety of roles, including head of consumer retail, head of carrier channel and managing director of Apple Canada. Prior to Apple, Rogers worked at Procter & Gamble as an account executive for several clients such as Loblaws, Sobeys and A&P, according to his LinkedIn profile. As chief business officer, Rogers has overseen the company's commercial operations, including retailer relationships and expansions, ad sales, mergers and acquisitions, Instacart Business and Instacart Health. Rogers currently sits on the board of data and analytics firm Spins and is a board member of the Ad Council, a nonprofit that helps launch public service campaigns addressing social issues. Rogers's ascension to the top role follows Instacart's work to establish itself as a leader in grocery technology and e-commerce "Over the last four years, we've transformed Instacart into a growing, profitable, leading technology platform that's helping reshape the grocery industry," Simo said in the announcement. "We're building a generational company at the intersection of technology and food, and Chris is the right leader for our next chapter." Simo "really set up a foundation" for the company to continue achieving double-digit growth and building its e-grocery market leadership, CFO Emily Reuter said during the J.P. Morgan Global Technology, Media and Communications Conference earlier this month. "The priorities remain the same, which is that we continue to be incredibly excited about the overall market opportunity, and really, our goal as the category leader … is to continue to drive online penetration," she said at the conference. Copyright 2025 Industry Dive. All rights reserved.
Miami Herald
21-05-2025
- Business
- Miami Herald
Instacart CEO's exit won't shift company strategy, top exec says
As Instacart faces the departure of its CEO, Fidji Simo, the grocery technology company is poised to stay the course its high-profile top executive helped lay out, its CFO said at a recent conference. Simo, who is leaving after four years at Instacart to become CEO of OpenAI Applications, "really set up a foundation" for the company to continue achieving the double-digit growth across key financial metrics it has recorded for the last several consecutive quarters, CFO Emily Reuter said during the J.P. Morgan Global Technology, Media and Communications Conference earlier this month. Instacart has said it will replace Simo with an internal candidate. While it's easy to imagine that a new CEO could shift Instacart's priorities, Reuter said that likely won't be the case. "The priorities remain the same, which is that we continue to be incredibly excited about the overall market opportunity, and really, our goal as the category leader … is to continue to drive online penetration," she said. Amid the changing macro-environment, consumers' use of online grocery shopping services hasn't wavered due to the combination of essential goods and convenience that e-commerce provides, Reuter noted. Instacart executives have long told investors that there is ample room to increase market share and penetration of grocery e-commerce. Doing that, though, requires not only continuing the business strategy that Instacart has already laid out for itself, but also refining several areas of the business, Reuter said. "There's not one big unlock. It's a lot of different things that work together to ultimately continue to drive order frequency [and] user growth to ultimately get to various solid and consistent GTV growth that we've had for many quarters in a row now," Reuter said. Reuter's comments firmly plant Instacart as a provider of grocery technology and e-commerce - a position that took Instacart several years to cement amid industry skepticism about the company's ambitions. Growing the user base by attracting new users and bringing people back who tried but then left Instacart is an untapped opportunity, Reuter said. For existing users, Instacart sees potential in incentivizing particular shopping behaviors, she said, without providing specifics. Instacart continues to work on improving order quality, Reuter said, noting that the company's number of fulfilled orders without errors has increased 15% over the last three years. This has helped boost the company's ability to retain customers. Expanding the variety of use cases, which Instacart has done through its Uber Eats partnership, is another vital area, she said. Instacart has found that listing restaurants brings people back to Instacart throughout the week, and they spend more incremental dollars on groceries, she added. As a result, Instacart sees "a lot of runway" with its restaurant partnership, Reuter said, without specifying future plans. Instacart's decision to lower its minimum order basket size to $10 for Instacart+ members, meanwhile, is driving increased order frequency, incremental GTV and increased adoption of Instacart+, Reuter said. "We certainly don't want to put people in a position where a fee means that I'm going to think about [not placing a small order] or think about going to another platform," she said. Instacart's scale and density of its orders as well as its improved operational capabilities allow the company to layer on smaller baskets more effectively than if it had tried to do so a few years ago, Reuter said. "It's these platform benefits from getting better at what we do in the core business, adding additional use cases, finding opportunities to drive affordability that together result in … really strong growth," Reuter said. Copyright 2025 Industry Dive. All rights reserved.
Yahoo
16-05-2025
- Business
- Yahoo
Intel says foundry business won't break even until 14A in 2027
When you buy through links on our articles, Future and its syndication partners may earn a commission. Currently, Intel's Foundry division loses billions every quarter as it invests heavily in new process technologies and production capacity. However, the company hopes that the Intel Foundry unit will break even sometime in 2027, which will coincide with the rollout out Intel's 14A manufacturing technology and production start on 18A-P node. Intel this week reaffirmed that the first product made on its 18A (1.8nm-class) fabrication process, the client PC processor (codenamed Panther Lake), will hit the market late this year and will ramp next year. The manufacturing technology will also be adopted for Xeon 'Clearwater Forest' and some third-party products, but from Intel's Foundry business perspective, 18A is will be a proof-of-concept for external clients. If this production node is a success, more potential customers will adopt its successors, including 18A-P, and 14A (1.4nm-class). "I think we do need to see more external volume come from 14A versus versus 18A, said David Zinsner, chief financial officer of Intel, at the J.P. Morgan Global Technology, Media and Communications Conference. "We have […] a bunch of bunch of potential customers, and then we get test chips, and then some customers fall out in the test chips, and then there is a certain amount of customers that kind of hang in there. So, committed volume is not significant right now, for sure. But, you know, I think we have got to partly prove ourselves a little bit with our own product and eat our own dog food here, and then […] we start to see some engagement around customers." Zinsner admitted that if the company choses to use High-NA EUV lithography with its 14A process technology — as it plans to at the moment — its costs will go up initially. Intel hopes that advantages enabled by the new fab tools will outweigh those higher costs. Like other contract chipmakers, Intel does not comment on its clients. The company also intends to produce more of its own silicon in house with its Panther Lake and Nova Lake CPUs, which will improve Intel's margins and its utilization of production capacities. As a result, Intel hopes that its Foundry unit will break even in 2027 and will be profitable from then on. "We still feel on track to to hit breakeven sometime in 2027," Zinsner said. "You know, I think when we committed to it in 2024, we said, 'it is going to be somewhere between 2024 and 2030, most people kind of settled in that that must mean 2027, and that is generally kind of what we are thinking is we can be breakeven." To break even, Intel Foundry only needs low- to mid-single-digit billions in annual external revenue, according to Zinsner. Most of 18A's volume will come from Intel's internal products, while 14A will require more external adoption. Intel's breakeven strategy also includes revenue from advanced packaging, mature nodes (like Intel 16), and partnerships with UMC and Tower. The company will continues to follow its 'smart capital' model, balancing internal and external wafer sourcing, and expects Foundry to compete for internal product demand to ensure efficiency and cost Tom's Hardware on Google News to get our up-to-date news, analysis, and reviews in your feeds. Make sure to click the Follow button.
Yahoo
16-05-2025
- Business
- Yahoo
Intel says foundry business won't break even until 14A in 2027
When you buy through links on our articles, Future and its syndication partners may earn a commission. Currently, Intel's Foundry division loses billions every quarter as it invests heavily in new process technologies and production capacity. However, the company hopes that the Intel Foundry unit will break even sometime in 2027, which will coincide with the rollout out Intel's 14A manufacturing technology and production start on 18A-P node. Intel this week reaffirmed that the first product made on its 18A (1.8nm-class) fabrication process, the client PC processor (codenamed Panther Lake), will hit the market late this year and will ramp next year. The manufacturing technology will also be adopted for Xeon 'Clearwater Forest' and some third-party products, but from Intel's Foundry business perspective, 18A is will be a proof-of-concept for external clients. If this production node is a success, more potential customers will adopt its successors, including 18A-P, and 14A (1.4nm-class). "I think we do need to see more external volume come from 14A versus versus 18A, said David Zinsner, chief financial officer of Intel, at the J.P. Morgan Global Technology, Media and Communications Conference. "We have […] a bunch of bunch of potential customers, and then we get test chips, and then some customers fall out in the test chips, and then there is a certain amount of customers that kind of hang in there. So, committed volume is not significant right now, for sure. But, you know, I think we have got to partly prove ourselves a little bit with our own product and eat our own dog food here, and then […] we start to see some engagement around customers." Zinsner admitted that if the company choses to use High-NA EUV lithography with its 14A process technology — as it plans to at the moment — its costs will go up initially. Intel hopes that advantages enabled by the new fab tools will outweigh those higher costs. Like other contract chipmakers, Intel does not comment on its clients. The company also intends to produce more of its own silicon in house with its Panther Lake and Nova Lake CPUs, which will improve Intel's margins and its utilization of production capacities. As a result, Intel hopes that its Foundry unit will break even in 2027 and will be profitable from then on. "We still feel on track to to hit breakeven sometime in 2027," Zinsner said. "You know, I think when we committed to it in 2024, we said, 'it is going to be somewhere between 2024 and 2030, most people kind of settled in that that must mean 2027, and that is generally kind of what we are thinking is we can be breakeven." To break even, Intel Foundry only needs low- to mid-single-digit billions in annual external revenue, according to Zinsner. Most of 18A's volume will come from Intel's internal products, while 14A will require more external adoption. Intel's breakeven strategy also includes revenue from advanced packaging, mature nodes (like Intel 16), and partnerships with UMC and Tower. The company will continues to follow its 'smart capital' model, balancing internal and external wafer sourcing, and expects Foundry to compete for internal product demand to ensure efficiency and cost Tom's Hardware on Google News to get our up-to-date news, analysis, and reviews in your feeds. Make sure to click the Follow button. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
