Just Eat Takeaway.com NV (LSE:JET, NASDAQ:GRUB) delivered drama on the morning of its annual shareholder meeting, with chief operating officer Jörg Gerbig not standing for reappointment while an investigation takes place into a possible misconduct charge.
If that wasn't enough, chairman Adriaan Nühn announced he would not be seeking re-election either, amid calls for change at the takeaway food delivery service from activist investor Cat Rock Capital.
Nühn said: "It is clear that shareholders have concerns about the challenges the company is facing. The supervisory board shares and understands these concerns, and the company has been in the process of addressing them.
"To ensure that the supervisory board can fully focus on the challenges and opportunities ahead, I believe it is important that there is strong support, particularly also among shareholders, for both the company and the supervisory board.
"Not seeking re-election is, I believe, the best decision I can take with regard to serving the interests of the company and its stakeholders, including its shareholders."
On Gerbig, the company said he was fully cooperating with the investigation and had full confidence in the outcome.
It added: "In order to avoid unnecessary uncertainties, the company deems it important to confirm that the complaints were not related to financial or reporting obligations. Given the confidential nature of [the company's] Speak Up Policy procedures and the requirement for a thorough process, recognising the privacy and interests of all involved, no additional information can be provided at this time."