Latest news with #Simo
Time of India
4 days ago
- Business
- Time of India
Instacart promotes business chief Rogers to CEO as Simo leaves for OpenAI
Instacart promoted chief business officer Chris Rogers to chief executive officer, replacing Fidji Simo who said earlier this month that she's leaving for a top leadership position at OpenAI . Rogers will step into the role August 5, at which point he'll also join Instacart's board of directors, the company said in a statement Wednesday. Simo will remain chair of the board. The online delivery company has moved quickly to lay out a succession plan after Simo announced that she's departing Instacart to become CEO of applications at OpenAI, a newly created role in which she'll report directly to co-founder Sam Altman. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Jesus' Tomb Is Opened And Scientists Find Something Unbelievable Novelodge Undo Rogers joined Instacart in 2019 and was elevated to chief business officer in 2022. Prior to Instacart, he spent 11 years at Apple Inc., where he held various positions, including managing director of Apple Canada. Instacart, best known for its grocery-delivery business, has continued to benefit from strong demand, even as US consumer sentiment has soured on concerns about the broader economy. The company posted its strongest order growth since 2022 when it reported quarterly earnings earlier this month. It also forecast better-than-expected gross transaction value and adjusted earnings before interest, taxes, depreciation and amortisation for the current period. Live Events Separately, earlier this month it launched a standalone ordering app aimed at Gen Z partygoers looking to have alcohol and snacks delivered to gatherings. Discover the stories of your interest Blockchain 5 Stories Cyber-safety 7 Stories Fintech 9 Stories E-comm 9 Stories ML 8 Stories Edtech 6 Stories Aside from its core delivery unit, Instacart has also expanded into providing technology to supermarkets. Earlier this month, it announced it's buying Wynshop Inc., an e-commerce platform for US grocery chains. Terms of the transaction were not disclosed. Instacart's own ecommerce solution currently powers about 600 brands' white-label sites, including Costco Wholesale Corp., Publix Super Markets Inc., Sprouts Farmers Market Inc. and Woodman's Food Market Inc. 'Instacart sits at the centre of how people shop, eat and care for their families — and that's always been what inspires me most about our mission,' said Rogers in a prepared statement. 'Together with our partners, we're transforming the future of grocery shopping, but more importantly, we're helping people solve real, everyday needs.' '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 a statement about Rogers' appointment. 'We're building a generational company at the intersection of technology and food, and Chris is the right leader for our next chapter.'
Yahoo
5 days ago
- Business
- Yahoo
Meet Fidji Simo's replacement as Instacart CEO: A former Apple director who helped drive iPhone market adoption
Instacart on Wednesday announced the replacement for CEO Fidji Simo, who helped bring the delivery company to a successful IPO in 2023. Simo will be succeeded by Chris Rogers, who previously served as a managing director for Apple Canada, where he helped bring iPhone adoption to market. Earlier this month, OpenAI announced it had hired Instacart CEO Fidji Simo to be its first CEO of Applications, a role Sam Altman carved out for her, overseeing product offerings and business operations. Although it was expected Simo would remain at the delivery company for 'a few months' while the board found her successor, Instacart announced Wednesday it had already found her replacement: Chris Rogers. Simo had joined Instacart in January 2019 as a board member and became CEO seven months later, replacing Apoorva Mehta. Simo helmed the company through its September 2023 IPO, having helped to raise $660 million to bring the company's valuation to nearly $10 billion. Its market cap today is about $12.3 billion and its stock price is up nearly 10% since the start of 2025. Considering Instacart's success, Simo's departure came as a surprise to many—and she admitted as much in a memo to Instacart employees. Still, the OpenAI offer is one she couldn't refuse. In the memo, she said she has 'a passion for AI and in particular the potential it has to cure diseases' and that 'the ability to lead such an important part of our collective future was a hard opportunity to pass up.' Simo had joined OpenAI's board last year. 'Fidji is exceptional,' Altman wrote in a May 8 X post. 'We have worked together on OpenAI for the past year and I have observed her deep commitment to our mission. I cannot imagine a better new team member to help us scale the next 10x (or 100x, let's see).' OpenAI wasn't expecting to announce Simo's appointment as soon as it did, blaming a media leak. At the time, the company said she would join OpenAI 'later this year,' but it's unclear whether she'll join sooner now that Instacart has already named her replacement. OpenAI didn't immediately answer a Fortune query about when Simo will join the company. On Wednesday, Instacart announced it had named Chris Rogers as CEO, effective Aug. 15, and Simo will remain chair of the board 'to ensure a smooth transition,' according to the company. Rogers joined Instacart in 2019 and currently serves as chief business officer, overseeing commercial operations like retailer relationships and expansions, ad sales, research and development, partnerships, mergers and acquisitions, Instacart Business, and Instacart Health. He hasn't always been in the grocery business, but has a 20-year career in consumer goods, technology, retail, and media. Rogers was most recently a managing director of Apple Canada, where he built and executed a country-specific strategy that drove iPhone adoption in the market. He had spent nearly 11 years at Apple, holding several roles like head of consumer retail and head of carrier channels for Canada. But Rogers actually started his career at consumer-goods giant Procter and Gamble, where he led relationships with Canada's largest national grocery retailers. He was there until 2008. Rogers also sits on the board of consumer goods and retail analytics company Spins, and is a board member of the Ad Council. Rogers 'brings the kind of vision, operational excellence, and customer obsession that will help Instacart play an even bigger role in people's lives,' Simo said in a statement. This story was originally featured on 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
UPI
5 days ago
- Business
- UPI
Instacart appoints business chief Chris Rogers its new CEO
A man carrying grocery bags walks in the direction of the New York Stock Exchange in New York City on Monday, April 20, 2020. Grocery delivery platform Instacart on Wednesday appointed a new CEO on Wednesday. File Photo by John Angelillo/UPI | License Photo May 28 (UPI) -- Instacart named Chris Rogers as its new CEO Wednesday, weeks after CEO Fidju Simo announced her departure for OpenAI. The grocery delivery company appointed Rogers, who had served as chief business officer, as its new top executive less than a month after it was revealed Simo would move over to OpenAI as its head of applications. "Over the last four years, we've transformed Instacart into a growing, profitable, leading technology platform that's helping reshape the grocery industry," Simo stated in a release. Rogers will start his new role on August 15 and likewise will join Instacart's board of directors. Instacart took off during the COVID-19 pandemic as shoppers and drivers delivered groceries to U.S. consumers at home in more than 5,500 American cities, but despite success cut roughly 7% of its staff last year in February to keep up with competition and rising costs. Meanwhile, Instacart stock shares on Wednesday were reportedly flat. Simo, who helped lead Instacart to its 2023 IPO, said it's a "generational company" that is "at the intersection of technology and food" and called Rogers the "right leader" for the company's next chapter. "Instacart sits at the center of how people shop, eat, and care for their families -- and that's always been what inspires me most about our mission," Rogers commented, adding that by working with partners, "we're transforming the future of grocery shopping, but more importantly, we're helping people solve real, everyday needs." According to the company, Simo will stay as board chair to "smooth the transition." Simo joined OpenAI's board last year and it was announced this month Simo was hired to run its application team reporting directly to OpenAI CEO Sam Altman, who previously said Simo will "focus on enabling our 'traditional' company functions to scale as we enter a next phase of growth." Rogers, who sits as a board member on the U.S. Ad Council, began his career at Procter and Gamble. He joined Instacart in 2019 after over 10 years at Apple where he later served as Apple Canada's managing director and graduated with a bachelor degree in business administration from Wilfrid Laurier University. "We have a world-class team, deep partnerships, leading technology and a bold vision for the future," the incoming Instacart CEO continued. "And I'm honored to step in and lead Instacart's next chapter," Rogers says.
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
Yahoo
5 days ago
- Business
- Yahoo
Instacart names Chris Rogers CEO to succeed Fidji Simo
You can find original article here Supermarketnews. Subscribe to our free daily Supermarketnews newsletter. Instacart announced Wednesday it promoted its chief business officer, Chris Rogers, to succeed Fidji Simo as chief executive officer, effective Aug. 15. Simo, who announced on May 8 she's leaving the last-mile delivery company to become CEO of OpenAI Applications, will remain chair of the board at Instacart. Rogers joined Instacart in 2019 and currently oversees retailer relationships and expansions, ad sales, research and development, partnerships, mergers and acquisitions, Instacart Business, and Instacart Health. "Over the last four years, we've transformed Instacart into a growing, profitable, leading technology platform that's helping reshape the grocery industry. We're building a generational company at the intersection of technology and food, and Chris is the right leader for our next chapter. He brings the kind of vision, operational excellence, and customer obsession that will help Instacart play an even bigger role in people's lives—and I couldn't be more excited to see how Chris scales the company's impact from here," Simo said in the press release. Simo assumed the CEO role in August 2021, following a 10-year stint at Facebook. She served as vice president and head of Facebook App for her last two-and-a-half years at the social media company. In that role she oversaw the company's various app features, including News Feed, Stories, Groups, Video, Marketplace, Gaming, News, Dating, Ads, and more. Rogers said in the press release that the San Francisco-based delivery company is 'transforming the future of grocery shopping, but more importantly, we're helping people solve real, everyday needs.' Rogers joined Instacart after nearly 11 years at Apple, where he served as managing director of Apple Canada. In that role, Rogers drove iPhone adoption in the market. He began his career at Procter and Gamble, where he oversaw relationships with Canadian grocers. He sits on board for data, analytics, and insights provider Spins, as well as the board of the Ad Council, a nonprofit organization that drives public service campaigns on social issues. Rogers said in a blog post Wednesday that Instacart's 'vision and strategy aren't changing.' 'And we'll invent the future of grocery with our partners by continuing to invest in cutting-edge enterprise tools and technologies, as well as enhance our leading advertising ecosystem—both of which empower retailers and brands to scale, grow and meet the evolving needs of their customers,' Rogers wrote. Instacart's most recent investment in new tech came with the acquisition of Fort Lauderdale-based ecommerce and technology company Wynshop in early May. The purchase builds on Instacart's flagship ecommerce platform, Storefront Pro. Simo said in her own letter to the Instacart team on Wednesday that Rogers was picked because of his deep understanding of the tech company's various partners, his operational experience, and his ability to mobilize teams. 'Chris knows this company. He helped shape it. And I know Chris will carry our mission forward with conviction, care, and ambition. I couldn't be more excited for him to step into the role of CEO and lead Instacart's next phase of growth,' she wrote. The abrupt announcement of Simo's departure earlier this month was premature, according to Simo, who said she went public with the change earlier than expected because of a leak about her departure to the press. Sign in to access your portfolio
