Activist investor Sachem Head acquires 3.6% stake in Delivery Hero, targets board representation and CEO replacement.
Activist investor Sachem Head Capital Management has acquired a 3.6% stake in Delivery Hero SE, a German food delivery company. The fund may seek representation on its board and is considering replacing CEO Niklas Oestberg, as it views the company's operating performance and share price as disappointing compared to its peers. Delivery Hero stock jumped 15% in Germany following the announcement of Sachem Head's investment.
April 04, 2024
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