Grab has announced the resignation of Uber Chief Executive Officer Dara Khosrowshahi from its Board of Directors, effective immediately, ending a board association that began after Uber exited the Southeast Asian ride-hailing market.
According to The Business Times, Grab said Khosrowshahi's departure comes as the company continues efforts to complete its proposed acquisition of foodpanda's Taiwan business.
The company added that Uber's economic interest in Grab remains unchanged following the board transition.
Long-standing board role comes to an end
Khosrowshahi first joined the board of Grab's former subsidiary in 2018, following Uber's sale of its Southeast Asia business to Grab.
He later became a member of Grab's Board of Directors after the company completed its public listing.
Grab did not disclose any additional reason for his resignation beyond linking the transition to the company's ongoing efforts related to the proposed foodpanda Taiwan acquisition.
Grab acknowledges Khosrowshahi's contribution
Anthony Tan, Group Chief Executive Officer and Co-founder of Grab, thanked Khosrowshahi for his contribution to the company.
"He has provided invaluable perspective on building global technology platforms," Tan said, according to The Business Times, recognising Khosrowshahi's role in supporting Grab's growth over the years.
Uber's investment remains intact
Grab clarified that Khosrowshahi's resignation does not affect Uber's shareholding in the company. The company said:
- Uber's economic interest in Grab remains unchanged.
- Khosrowshahi's resignation takes effect immediately.
- Grab's Board of Directors now comprises six members.
- Four of the six directors are independent.
No other board or executive appointments were announced alongside the change.
Leadership transition comes during strategic expansion
The board change coincides with Grab's ongoing efforts to complete its proposed acquisition of foodpanda's Taiwan business, a transaction that would strengthen the company's presence in the region's food delivery market.
While Grab did not link the resignation to any governance changes beyond the acquisition process, the company indicated the board transition forms part of its current phase of corporate development.
With Khosrowshahi stepping down, Grab's board continues with six directors as the company pursues strategic expansion while maintaining Uber as an investor.