Just Eat told to seek out mergers

Just Eat should merge with a rival online meal-delivery company because the board has shown that it can’t find a suitable chief executive, according to Cat Rock Capital Management, which owns about 2% of Just Eat.

The US investment firm sent an open letter to Just Eat’s board of directors saying it made a mistake in appointing Peter Plumb as CEO in 2017. Just Eat should use global consolidation to its advantage and a merger would deliver “real value,” according to Cat Rock.