Grocery delivery giant Instacart Inc. has appointed Fidji Simo, who oversees Facebook Inc.’s flagship social networking app, as its new chief executive, replacing co-founder Apoorva Mehta as the company prepares for an initial public offering.
Simo, 35, will start her new role by Aug. 2, the San Francisco company said in a statement. Mehta will become executive chairman of Instacart and will remain “very engaged” in the day-to-day operations of the business.
“The idea of someone else running the company had never even crossed my mind,” Mehta said in an interview. “But this changed when I met Fidji. Both of us share an incredibly ambitious vision for Instacart’s future.”
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