Instacart poaches Fidji Simo from Facebook to be its next CEO

Fidji Simo attends the 77th Annual Golden Globe Awards at The Beverly Hilton Hotel on January 05, 2020 in Beverly Hills, California.
Michael Kovac/Getty Images for Moët and Chandon

Facebook's Fidji Simo was just named as Instacart's new CEO.
She'll take over the role from Instacart founder Apoorva Mehta in August.
Simo was one of the most senior female executives at Facebook before she left.
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Grocery delivery app Instacart has named Facebook's Fidji Simo as its new CEO, CNBC reports.

The head of Facebook's app is set to take over as Instacart CEO from founder Apoorva Mehta at the start of August, as Mehta transitions into the position of executive chairman of the board.

Simo, 35, was one of the most senior female executives at Facebook, and she became the first woman on Instacart's board earlier this year.

She told CNBC that she was "blown away" by Mehta's leadership, and saw they "shared a really ambitious vision for Instacart."

"We saw the emergence of a lot of new companies built on top of Facebook ads," she told CNBC. "And I'm seeing the same thing happening within Instacart's business, where not only existing food companies are reaching new customers, but I see new food companies having the potential to be created."

This is a developing story. Please check back for updates.

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