Grab’s chief product officer Philipp Kandal / Photo credit: Grab
Grab has filed to sell 100,000 class A ordinary shares, worth US$368,000 in total, from the account of Philipp Kandal, the chief product officer of the Singapore firm.
According to a US Securities and Exchange Commission filing, the shares were sold on September 7. Kandal acquired them in 2022 through Grab’s share incentive plan.
After the sale, Grab still has upwards of 3.79 billion shares outstanding.
In a statement to Tech in Asia, Grab said the sale was done to cover tax obligations and that Kandal is “fully committed to Grab.”
Grab appointed Kandal as chief product officer in January this year, and he was tasked to spearhead the company’s product, design, and analytics teams. He also leads Grab’s product vision and strategy initiatives.
He joined the company in 2019 to lead the engineering and data science teams for Geo, Grab’s mapping arm, and was promoted to head of Geo in January last year.
One of Kandal’s biggest projects for Grab was GrabMaps, which the company has made available for use by other businesses and government agencies under a B2B model.
The move put GrabMaps in direct competition with industry majors like Google Maps, as well as other local players like NextBillion.ai.
See also: How GrabMaps plans to beat Google Maps in $1b sweepstake for SEA dominance
Update (September 8, 5:00 pm): This article was updated to include a statement from Grab.
Editing by Dhania Putri Sarahtika
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