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Instacart appoints Facebook exec Fidji Simo as new CEO

Simo was previously head of the Facebook app.

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Fidji Simo, left, will take on the role of CEO, and founder Apoorva Mehta will transition to executive chairman. 

Instacart

Online grocery service Instacart appointed Fidji Simo, a longtime Facebook executive and head of the social network's mobile app, as its new chief executive officer Thursday. Simo will take over the role starting Aug. 2. Apoorva Mehta, the company's founder and previous CEO, will transition to executive chairman of the board. 

"I fell in love with Instacart first as a customer, then as a Board member and now I'm honored to join the company as CEO and lead its next growth chapter," Simo said in a release. "As we think about the future of food, we believe the way people eat and their relationship with food will fundamentally change over the next decade. They'll expect a more convenient experience, the widest selection of food at their fingertips, faster delivery times, increased personalization, and more inspiration."

Instacart faces increasing competition from companies like Amazon, Walmart, DoorDash and Uber, which are all seeking to capitalize on the growing popularity of grocery delivery. Earlier this year, Instacart introduced 30-minute grocery deliveries in 15 cities, with plans to roll out the speedy service in more locations. 

Facebook has reportedly appointed Tom Alison, a product and engineering executive, to take over as head of the Facebook app.