Reuters exclusive reveals that two senior Grab executives have quit as company rejigs unit to stem losses


Business & Finance

Shares in Nasdaq-listed Grab Holdings fell 5% yesterday after Reuters exclusively reported that two top executives at the Southeast Asian ride-hailing and delivery firm’s fintech business have quit, adding to other senior departures in recent months at the loss-making group. Both the executives worked at the Grab Financial Group’s GrabFin unit, which is streamlining its regional and country teams with a view to focus on lucrative areas, Reuters reported, citing people familiar with the matter.  The latest executive departures come as Grab’s losses rose to $3.6 billion in 2021 from $2.7 billion a year earlier, while revenue rose 44%, with investors focusing on how the firm plans to stem losses. The Grab stock ended the day’s trade down 5.1% after the Reuters story, while the Nasdaq composite index added 1.51%. 

Market Impact

The Grab stock ended the day’s trade down 5.1% after the Reuters story, while the Nasdaq composite index added 1.51%.

Article Tags

Topics of Interest: Business & Finance

Type: Reuters Best

Sectors: Equities

Regions: Americas

Countries: CambodiaMalaysiaMyanmarPhilippinesSingaporeThailand

Win Types: Exclusivity

Story Types: Exclusive / Scoop

Media Types: Text

Customer Impact: Important Regional Story



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