Instacart taps Facebook’s Fidji Simo as New CEO Ahead of Planned IPO

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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