Grab COO breaks down ‘triple pivot’ strategy for profit

Last month, when Grab added the title of president to its chief operating officer Alex Hungate, it marked a quiet yet significant shift in the company’s leadership. The president position was previously occupied by ex-SoftBank executive Ming Maa.

To be clear, Hungate’s new title does not change his current responsibilities, which include overseeing all country heads as well as the company’s core verticals of mobility, deliveries, and financial services. But with the departure of co-founder Tan Hooi Ling in May 2023, Hungate has steadily emerged as one of Grab’s most influential leaders. 

Image credit: Timmy Loen

His arrival in January 2022 came shortly after Grab’s highly anticipated US IPO and as Southeast Asia’s tech winter began. With extensive corporate experience at HSBC, Reuters, and SATS, Hungate was tasked with steering Grab toward profitability.

That goal, however, remains unmet. “We expect to be free cash flow positive as the next milestone, and then, obviously, the milestone after that will be net income positive,” Hungate tells Tech in Asia in an exclusive interview.

The man for the job?

Unlike former Facebook COO Sheryl Sandberg, Hungate has kept a relatively low profile even at the regional level. 

He refers to his working relationship with Grab CEO and co-founder Anthony Tan as “complementary.” “I love to bounce ideas off of him, and then he’ll bounce ideas off of me on strategy and the implementation as well,” the COO says. 

Hungate took over the COO title from co-founder Hooi Ling, including her marketing function. He also relieved Anthony of some responsibilities, including oversight of Grab’s markets. 

After Hooi Ling stepped down, Anthony’s portfolio also includes tech and product.

Cheryl Goh, one of Grab’s founding employees who currently serves as its group vice president of marketing and sustainability, notes that Anthony has transitioned into more of a “visionary role,” focusing on the company’s long-term future.

Meanwhile, Hungate is more focused on “what should we prioritize on today? How do we, with the resources that we have, deliver on that? How do we balance that visionary goal with what we’re doing today?” says Goh, who reports to Hungate on marketing and to Tan for sustainability. 

[From left to right] Hungate with co-founders Hooi Ling Tan, Anthony Tan, CFO Peter Oey, and Cheryl Goh / Photo credit: Alex Hungate’s X account

See also: Why fintech arms of GoTo, Grab, Sea deserve more attention

Three pivots

Inflection point

Too big to acquire?