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Instacart has appointed Chris Rogers, the company's chief business officer, as its new CEO, effective August 5. He replaces Fidji Simo, who is leaving to take a leadership role at OpenAI while remaining chair of Instacart's board. The transition follows a swift succession plan initiated by the company.
OpenAI has made significant changes, including abandoning plans to become a for-profit entity and appointing Fidji Simo as head of applications. The company will now convert its for-profit arm into a public benefit corporation, maintaining control under its nonprofit structure. Elon Musk, a co-founder, criticizes these moves as a "facade" to obscure alleged misappropriation of funds.
Instacart CEO Fidji Simo is working to reshape the company into a provider of e-commerce technology for supermarkets, following a significant drop in market value from $39 billion to just over $10 billion as consumer habits shifted back to in-store shopping post-pandemic. She faces the challenge of gaining support from both staff and Wall Street skeptics regarding this new vision.
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