Delieveroo CEO Will Shu to step down from the delivery food company after its takeover by DoorDash is completed.

Delieveroo CEO Will Shu to step down from the delivery food company after its takeover by DoorDash is completed. Photo by John Angelillo/UPI UPI

Sept. 18 (UPI) -- Deliveroo founder and CEO Will Shu said Thursday he plans to step down from the company following its acquisition by DoorDash.

Shu said in a statement that he will leave his role at the London-based company after the DoorDash takeover is completed in early October.

"I have decided that now is the right time for me to step down," he said. "Taking Deliveroo from being an idea to what it is today has been amazing."

"Today the Company's growth and profitability are accelerating, and we are delivering on our mission to transform the way people shop and eat, but after 13 years, I want to contemplate my next challenge."

In May, DoorDash announced it would acquire Delieveroo in a deal worth $3.8 billion, expanding its business into countries previously served by Delieveroo.

The deal is expected to be effective from Oct. 2 with a court hearing on Sep. 30 to finish the takeover.

'Will is an incredible innovator and has brought a unique mix of passion, vision and commitment to the creation and growth of Deliveroo," said Claudia Arney, chairwoman of Deliveroo.

"He has created a British success story that has had a hugely positive impact on the way we eat and shop, provided a new form of work for tens of thousands of people and helped thousands of restaurants and other merchants grow their businesses both here and around the world," she added."On behalf of the board, I want to thank Will for his remarkable contribution."