- Grab Holdings Inc's (NASDAQ:GRAB) technology head quit the ride-hailing and food-delivery company after seven years to lead a new cryptocurrency gaming venture, Bloomberg reports.
- Wui Ngiap Foo, in charge of Grab's mobility-services fleet, would depart on March 31. Foo looked to join crypto gaming startup, Ethlas, as CEO and co-founder in the upcoming week.
- Foo was a key member of Grab's leadership team, helping in its combination with Uber Technologies Inc's (NYSE:UBER) Southeast Asia business in 2018 and later leading its Microsoft Corp (NASDAQ:MSFT) collaboration.
- Grab battled intensifying investor scrutiny over its growth prospects and high cash burn.
- Grab's shares have lost more than half their value since its public debut, compounded by a sharp market decline and a dismal earnings report.
- Price Action: GRAB shares traded lower by 2.05% at $3.82 in the premarket on the last check Wednesday.
