Delivery Hero is undergoing an abrupt change in its financial management.

After more than ten years at Delivery Hero, CFO Emmanuel Thomassin will leave the Management Board with immediate effect and take on a new professional role outside the company, the food delivery company announced on Friday. From July 1, Marie-Anne Popp will take over the CFO position on an interim basis and report directly to Group CEO Niklas Östberg. She was previously Senior Vice President Finance at Delivery Hero and previously worked for Adidas and General Electric, among others. Thomassin will continue to work as a consultant until the end of September. This temporarily reduces the size of the Management Board to two members.

The Group, which is listed on the MDax small-cap index, raised its full-year targets at the end of April following a strong quarterly result. However, the failed sale of the loss-making Southeast Asian business of subsidiary Foodpanda had fueled speculation about a capital increase at Delivery Hero, as liabilities worth billions will have to be refinanced in the coming years. However, Delivery Hero expressed confidence in February that it would be able to generate a sufficiently high cash inflow (cash flow) to service its debts. In the meantime, the Group has also taken out new loans to buy back some of the convertible bonds it has issued.

(Report by Philipp Krach, edited by Ralf Banser. If you have any questions, please contact our editorial team at berlin.newsroom@thomsonreuters.com (for politics and the economy) or frankfurt.newsroom@thomsonreuters.com (for companies and markets).)