REUTERS/Lucas JacksonGrubhub has hired a Cargill public relations and lobbying vet to head corporate affairs as the delivery app tries to stand out in a crowded field.
Devry Boughner Vorwer will promote the company's support of local restaurants and contribution to hunger relief while tackling looming regulation.
The delivery app industry has been rapidly consolidating as the major players struggle to be profitable.
Visit Business Insider's homepage for more stories.
Grubhub has hired Cargill vet Devry Boughner Vorwer as chief corporate affairs officer as the delivery app tries to take on bigger competitors Uber and DoorDash.
Starting on January 19, Vorwer will oversee brand, communications, government relations, public policy, and sustainability. She will oversee about 40 employees and report to CEO Matt Maloney.
The delivery app industry, which Morgan Stanley predicts will be worth $470 billion by 2025, is rapidly consolidating. DoorDash acquired Caviar in 2019. In 2020, Just Eat Takeaway merged with Grubhub in a deal valuing it at $7.3 billion, a deal expected to close in the first half of 2021; and Uber gobbled up Postmates.
At food giant Cargill, Vorwer oversaw public relations and government lobbying and rolled out programs to help local communities with jobs and food. Similarly, she plans to show how Grubhub is supporting restaurants and communities through grants and hunger relief.
Read more: Meet the 22 top executives at Edelman who are key to helping the world's biggest PR firm hit its $1 billion revenue goal
"My entire career has been in food," Vorwer told Insider. "Grubhub wouldn't exist without restaurants. Of course, we have to focus on the success of drivers and diners, but if restaurants are successful, it's because diners are choosing them."
Vorwer will also oversee Grubhub's public policy and lobbying arms as potential regulations loom over the delivery app industry. City governments like New York City cap delivery fees and unions fight to overturn laws like California's Prop 22, which let companies classify drivers as full-time employees instead of independent contractors.
"We continually hear that our delivery partners value the flexibility that comes from working with our company, and we're committed to making opportunities available that fit around their lives," a Grubhub spokesperson told Insider. "As Devry gets ramped up, this will be an important focus with officials and stakeholders."
Vorwer also holds posts at nonprofits like Cultivating New Frontiers in Agriculture, University of California Agriculture Issues Center, the US-Mexico Foundation, the Economic Club of Washington, DC, and the Social Gastronomy Movement.
NEW YORK, Jan. 14, 2021 (GLOBE NEWSWIRE) -- Hennessy Capital Investment Corp. V (the “Company”) announced today that it priced its upsized initial public offering of 30,000,000 units at $10.00 per unit. The units will be listed on The Nasdaq Capital Market (“Nasdaq”) and trade under the ticker symbol “HCICU” beginning tomorrow, Friday, January 15, 2021. Each unit consists of one share of the Company’s Class A common stock and one-fourth of one redeemable warrant, each whole warrant enabling the holder thereof to purchase one share of Class A common stock at a price of $11.50 per share. Only whole warrants are exercisable. Once the securities comprising the units begin separate trading, the Class A common stock and warrants are expected to be listed on Nasdaq under the symbols “HCIC” and “HCICW,” respectively.
The offering is expected to close on Wednesday, January 20, 2021, subject to customary closing conditions.
The Company is a blank check company founded by Daniel J. Hennessy and formed for the purpose of entering into a merger, capital stock exchange, asset acquisition, stock purchase, reorganization or similar business combination with one or more businesses. While the Company may pursue an initial business combination target in any business, industry, sector or geographical location, it intends to focus its search on target businesses in the sustainable industrial technology and infrastructure industries.
Citigroup Global Markets Inc. and Barclays Capital Inc. are serving as joint book-running managers for the offering and Roth Capital Partners, LLC and Loop Capital Markets LLC are serving as co-managers for the offering. The Company has granted the underwriters a 45-day option to purchase up to an additional 4,500,000 units at the initial public offering price to cover over-allotments, if any.
The offering is being made only by means of a prospectus. When available, copies of the prospectus may be obtained from Citigroup Global Markets Inc., c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, NY 11717, or by telephone at 1-800-831-9146; or Barclays Capital Inc., c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, NY 11717, or by telephone at 888-603-5847, or by email at Barclaysprospectus@broadridge.com.
A registration statement relating to these securities has been filed with the Securities and Exchange Commission (the “SEC”) and was declared effective on January 14, 2021. This press release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.
This press release contains statements that constitute “forward-looking statements,” including with respect to the initial public offering and the anticipated use of the net proceeds. No assurance can be given that the offering discussed above will be completed on the terms described, or at all, or that the net proceeds of the offering will be used as indicated. Forward-looking statements are subject to numerous conditions, many of which are beyond the control of the Company, including those set forth in the Risk Factors section of the Company’s registration statement and preliminary prospectus for the offering filed with the SEC. Copies are available on the SEC’s website, www.sec.gov. The Company undertakes no obligation to update these statements for revisions or changes after the date of this release, except as required by law.
CODY SLACHGateway IRP: (949) 574-3860E: HCIC@gatewayir.com
Adam H Schechter, CEO of LabCorp.
Jim Watson/Getty ImagesTesting giant LabCorp has provided COVID-19 testing results to millions of people since March 2020.
In an interview with Insider, LabCorp CEO Adam Schechter shared that he anticipates most physical offices to reopen by June.
Schechter shared the key steps employers should take when they're planning to bring employees back to work.
Visit Insider's homepage for more stories.
Adam Schechter, chairman and CEO of coronavirus testing giant LabCorp, thinks it's highly unlikely that corporate workplaces will ever return to normal, or to way they were before the pandemic. Schechter advises CEOs on safely reopening offices, he told Insider.
He anticipates physical offices will reopen in June.
The CEO predicted that most companies will reopen to a large degree by mid-summer, when more people are vaccinated.
But reopening during a global pandemic is a complicated process, and it's normal for companies to be at different stages right now. Your strategy depends on how many cases of coronavirus are in your area, how much room you have in the office to implement social distancing guidelines, and the state of your employees, he added.
"I think the reopening process should be slow," Schechter said. "I believe that it is possible to reopen, but be thoughtful about how fast you do it, and I don't think you should have everybody go back at the same time."
Here's what every business leader needs to consider before reopening, according to Schechter.
Normalize remote work before contemplating reopenings
LabCorp's laboratories, service centers, and offices have been open everyday since the coronavirus outbreak, but the company doesn't have more than 10% of its staff in offices on any given day. Employees have the option to return to offices if they want to, but no one is required, Schechter said.
Schechter said he hates working from home, and that he'd much prefer to work from his office building. But he chooses to work remotely because he thinks it's important for leaders to normalize remote work by modelling that kind of behavior.
"If I'm in the office, 20 other people will come to the office just because I'm here," he said. "It doesn't matter what I say or do, my employees will come to the office because they'd feel more pressured to show up."
Acknowledge that people might not want to return to offices
Companies should be very open to the fact that people have different comfort levels toward reopening, Schechter said.
Even if you're equipped to bring people back to the office, your workforce might not be ready for various reasons. Several companies that Insider has spoken including consulting firm Bain & Company and commercial real estate firm JLL, explained that gathering employee feedback was a key factor in determining reopening plans.
For example, JLL conducted company-wide surveys and posted daily questions to the company's online portal everyday to address workers' concerns regarding COVID-19. Overtime, the firm learned that the majority of their employees wanted to adopt a hybrid work model and return to offices in some capacity. As of October 2020, JLL successfully reopened nearly 140 North American offices and more than 200 international offices.
And amid the pandemic, Schechter said he tries to remind himself and senior leaders at LabCorp that everyone is being impacted differently. There are employees who have been in complete isolation. Working parents are struggling to juggle their job and their kids. Some employees have lost loved ones, he added. These personal events may very well play into their decision to return to offices.
"The key is to have compassion as a leader right now," Schechter said. "You have to understand that your employees are struggling both professionally and personally, and people are each going through something different right now."