Deliveroo has poached the CFO of MoneySupermarket.com for the same role at the food delivery company.
The London-listed platform announced on Monday that Scilla Grimble will join the company as chief financial officer and director of the board no later than June 2023.
Current Chief Financial Officer Adam Miller will initially be replaced by Deliveroo Vice President for Investor Relations David Hancock from September 17. Miller will also continue in his current role and will not join the board.
Grimble has been chief financial officer at MoneySupermarket since 2019 and previously served as interim chief financial officer at Marks & Spencer.
She also worked at Tesco in a selection of senior finance and management roles, following a decade at UBS as Managing Director and Head, Investment and Retail Banking for EMEA.
Claudia Arney, President of Deliveroo, said “Grimble’s highly relevant skills and experience will help us take advantage of the significant opportunities ahead of us and will be invaluable as we continue to grow our business.”
Grimble will receive a base salary of £500,000, with room for an annual discretionary bonus of up to £900,000 and an annual discretionary incentive bonus of up to £2.5 million.
She will also receive rewards to compensate her for the incentive rewards she will lose for the moving jobs.
The company said it aims to achieve an adjusted EBITDA margin of more than four percent by 2026, when it expects gross profit margin expansion and reduced marketing and overhead.
Deliveroo also said it hoped to break even in base revenue in 2023 or 2024.
Shares of the app were down more than 2.5% on Monday afternoon.