Deliveroo boss sells nearly £15m in shares: Will Shu cashes in after group turns its first half-year...

Deliveroo boss Will Shu has sold nearly £15million of shares after the food delivery group turned a half-year profit for the first time. Shu, who co-founded the business over a decade ago, sold 9.4m shares worth £14.

8million between September 12 and September 16, the company revealed in a stock market disclosure. The group said he did this to 'cover personal property investments' and he does not participate in the company's annual bonuses or long-term share award schemes. Cashing in: Deliveroo boss Will Shu (pictured) is a former banker at investment bank Morgan Stanley Shu, a former employee at investment bank Morgan Stanley, still owns 95.



8m shares, or 5.9 per cent of the company, after the sale. It comes one month after Deliveroo turned a half-year profit for the first time in what bosses described as a 'major milestone'.

The food delivery group – branded 'Flopperoo' after its disastrous stock market float in 2021 – has seen a revival in performance lately. Deliveroo shares have risen by almost 38 per cent over the past six months. But they remain less than half of their initial public offering price of 390p.

They closed up 0.3 per cent, or 0.4p, at 157.

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Emily Hawkins.