honestbee fired CEO Joel Sng, says report; startup to make statement today

EMBATTLED grocery delivery startup honestbee has let its CEO Joel Sng go, according to a TechCrunch report citing sources with knowledge of the matter.

honestbee will be addressing the matter in a statement later today, a spokesperson for the company said on Thursday in response to queries from The Business Times.

Mr Sng co-founded honestbee in 2015 with fellow founders Isaac Tay and Jonathan Low. Mr Tay has left honestbee, while Mr Low serves as vice president for engineering.

Mr Sng also served as a senior advisor to Formation Group, a key backer of the startup, according to past media reports.

On Tuesday, honestbee announced it would lay off 10 per cent of its global headcount and had stopped its services in Hong Kong and Indonesia, as well as its food vertical in Thailand.

The company also suspended services in the Philippines and Japan, along with certain partnerships in other markets.