talabat has appointed Toon Gyssels as its new CEO, marking a major leadership transition less than a year after the company’s record-setting IPO. In a press release published on October 15, 2025, the Dubai-based delivery platform described the move as a “planned and strategic” step, with Tomaso Rodriguez, who led the company for six years, stepping down from the top role but remaining on the board as a non-executive director.
Gyssels, who previously served as COO and interim CEO at talabat before joining Kitopi, will formally take charge on November 21. His return comes at a time when the regional delivery market is entering a new phase of competition, one that’s being reshaped by global players, consolidation, and shifting economics.
When talabat went public on the Dubai Financial Market (DFM) in December 2024, it raised about AED 7.5 billion (USD 2 billion) at an AED 1.60 per-share price, valuing the company at AED 37 billion (USD 10 billion), the largest tech IPO in the Gulf. The stock opened at AED 1.70 and briefly climbed to AED 1.72 before closing lower at AED 1.49, and it now trades near AED 1.04, roughly 35% below the IPO level.
Under Rodriguez, talabat grew into one of MENA’s most recognized consumer tech platforms, expanding from food delivery into quick commerce and grocery delivery. In 2024, the company reported USD 7.4 billion in GMV, up 23% year-on-year, while revenue rose 32% to USD 3 billion. Net income jumped 64% to USD 346 million, according to company filings.
But Gyssels now inherits a market that looks very different from the one talabat dominated just a few years ago. China’s Meituan recently expanded its MENA footprint through Keeta, its international delivery app, signaling the arrival of a global heavyweight with deep logistics expertise and aggressive pricing power. Meanwhile, Deliveroo’s acquisition by Uber earlier this year reshaped competitive dynamics in GCC markets, giving Uber Eats access to Deliveroo’s established restaurant network in the UAE and Qatar.
That combination — a global entrant and a major consolidation raises the stakes for incumbents like talabat, HungerStation (Saudi Arabia), and Jahez, which are already fighting for tighter margins in a market where customer loyalty often comes down to speed and promotions.
In its press release, Chairman Pieter-Jan Vandepitte credited Rodriguez with “overseeing one of the most transformative phases in talabat’s history,” while expressing confidence that Gyssels’ operational experience will help steer the company through its next chapter.
Founded in Kuwait and now headquartered in Dubai, talabat operates in eight markets, including the UAE, Saudi Arabia, Kuwait, Egypt, and Qatar, serving more than 6.5 million active users. As global competitors enter the Middle East and local platforms consolidate, the company’s challenge will be to protect its scale while delivering sustainable profitability in an increasingly crowded delivery landscape.
For Gyssels, that means balancing growth with investor expectations, and proving that talabat’s post-IPO story can be one of reinvention, not retreat.
talabat names new CEO as shares drop 35% since IPO