UPDATE 1-Delivery Hero investor Aspex to CEO: step up turnaround or your job is on the line

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FRANKFURT/MUNICH, March 13 (Reuters) - A top shareholder of German online takeaway food firm Delivery Hero DHER.DE has threatened to push for an ouster of the company's leadership unless it makes fast progress in an ongoing strategic review.

In a letter addressed to Delivery Hero's CEO Niklas Oestberg and seen by Reuters, investor Aspex Management said there had been little progress and warned of further value destruction if nothing is done.

The comments by Hong Kong-based Aspex, which holds a 9.2% stake worth 474 million euros ($542 million), heap pressure on Delivery Hero's management, which announced in December it would reassess its capital allocation and certain country operations.

Aspex, Delivery Hero's third-largest investor and on the shareholder register since 2020, said it doubted Delivery Hero was the best owner for selected businesses in Asia, the Middle East and Latin America.

It said that unless there was progress soon, it would "assess all legal courses of action available to us", including "initiating steps that aim at ultimately changing the leadership of the company".

Aspex declined comment. Delivery Hero did not have an immediate comment.

($1 = 0.8743 euros)


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