Her exit leaves Chief Executive Officer Anthony Tan steering the company without his co-founder as it fights to reverse years of losses. Last week, its shares fell the most in more than a year after the company reported slowing spending by customers grappling with a higher rate of inflation and rising interest rates.
Grab Holdings co-founder Tan Hooi Ling is stepping down from her operational roles by the end of the year, more than a decade after she helped start the Singapore-based ride-hailing and food delivery company.
Tan, 39, will also give up her seat on the board, though she will remain an adviser to the company, according to an internal memo sent to employees Thursday and seen by Bloomberg News. She currently leads Grab’s technology and corporate strategy teams, and previously served as operating chief until 2022.
