Instacart Reshuffles C-Suite as IPO Looms
Instacart has made its largest executive refresh since it rapidly filled its executive shopping cart with a slew of tech executives, including CEO Fidji Simo, last summer.
Instacart has promoted Laura Jones to serve as the online grocery delivery platform’s Chief Marketing Officer. Jones initially joined Instacart from Uber in June 2021 and has been the company’s Head of Marketing for the past year.
Jones isn’t the only Instacart leader to be elevated to the C-suite. The company has also upped Head of Product Daniel Danker to Chief Product Officer, according to Adweek. Chris Rogers, Instacart’s VP of Global Retail, has also been promoted to Chief Business Officer.
Instacart’s CTO, Mark Schaaf, is on his way out and will reportedly pass his duties and title to VP of Engineering Varouj Chitilian.
The flurry of promotions follows a year of attrition as the company lost Chief Revenue Officer Seth Dallaire to Walmart in October 2021, Carolyn Everson departed from her role as President in December 2021 and Head of Product for Payments Ofek Lavian left in March 2022.
The whirlwind of fresh faces in the C-suite also lends itself to renewed speculation that Instacart’s long-awaited IPO is nearing. In April 2022, the company quietly hired Zynga’s corporate finance and investor relations leader, Rebecca Lau, as its Head of Investor relations. A month later, the digital grocery delivery service privately filed a draft registration statement with the SEC, its first concrete step toward going public.
The confidential filing didn’t indicate when the company hopes to begin trading on the open market. Still, the formalization of its organizational structure and addition of critical roles, such as investor relations, indicates that the event is drawing closer.