A Philadelphia Corporate Governance Success Story

By: Aryn Chartock, Class of 2028

What is Corporate Governance?

Corporate governance is the system of “rules, practices and procedures that guide, control and govern a company.”[1] It often involves the dynamics between a company’s management, board of directors, shareholders, and other stakeholders, with the goal of ensuring accountability and fairness within a company’s operations.[2]

Historically, corporate governance evolved from simple, often informal arrangements where owners directly managed their businesses.[3] Over time, regulatory changes have formalized traditional corporate governance frameworks, pushing for more accountable, fair, and ethical practices.[4] For example, the Sarbanes-Oxley Act of 2002 reflected a Congressional effort to respond to widespread accounting scandals and corporate fraud.[5] This regulatory change altered the scope of modern-day corporate compliance through its additional rules, increased board oversight provisions, and emphasis on standards, quality control, and ethics.[6]

With modern developments, like Artificial Intelligence (AI), the growth of multinational and international corporations, and increased threats to cybersecurity, optimal compliance and decision-making to address inherent risks becomes increasingly vital.[7] Modern developments and reliance on AI especially create additional risks for companies, even those outside the information technology sector.[8] Now, more than ever, startups must ensure their best corporate governance practices can stand up to rigorous examinations and risks.[9] This includes establishing risk management systems, implementing mechanisms of financial transparency, and hiring independent directors and board members with a broad range of background and experience. [10]

What is GoPuff?

GoPuff quickly delivers a wide range of products to consumers, including home products, over-the-counter medications, baby and pet products, food, drinks, and more.[11] Founded in Philadelphia by two Drexel students, Rafael Ilishayev and Yakir Gola, the startup on-demand delivery company now has fulfillment locations in every market it serves.[12] GoPuff charges a flat fee, for as low as $3.95, is open 24/7 in many markets, and delivers to more than 500 locations across the US.[13] While many businesses struggled during the COVID-19 pandemic, GoPuff was “busier than ever,” seeking thousands of new drivers and warehouse workers to keep up with customers’ demands for speedy delivery.[14]

Following a successful year in 2021, GoPuff acquired two international grocery delivery companies – Dija and Fancy – and launched in thirty-five sites across twelve United Kingdom cities in just two months.[15] Through various acquisitions, GoPuff gained immediate access to the market’s leading technology and talent to improve company services.[16] GoPuff dominates as a national and international success, leading the food and goods delivery service markets across the globe. [17]

Independent Board Oversight

GoPuff attributes its success to its “foundational layer of corporate governance.”[18] GoPuff focuses on ensuing and appointing trust in other individuals, bringing different perspectives, backgrounds, and expertise to the table. [19] The company’s skillfully crafted Independent Board works to improve the company’s efficiency, fairness, and accountability and is one of their key corporate governance strategies.[20] Its reliance on corporate governance is evident in its diversely appointed and talented leadership team. [21] Co-founders Ilishayev and Gola recognize the importance of including experts with specialties and experience in technology, food, and consumer-facing companies to meet consumer demands and compete against various forms of competition. [22]

Specialized Executive Talent and Multiple Perspectives

In 2021, GoPuff appointed Betsy Atkins as the company’s first Independent Board Member. [23]  GoPuff co-founders appointed Atkins to join their Board of Directors to further their commitment to corporate governance and fiscal responsibility. [24] Founders of GoPuff strategically chose Atkins as its first independent board member for her experiences in technology, financial services, healthcare, retail, manufacturing, and logistics. [25] Atkins brought a strong and experienced operational perspective to the company, furthering the company’s mission to bring better and more efficient experiences for customers. [26]

Later in 2022, GoPuff appointed another outside perspective to the company, former Walt Disney Company CEO Bob Iger, as an advisor.[27] As an advisor, Iger helps to contribute to the company’s team and mission.[28] GoPuff sought Iger for his experience in leading a large, international company focused on developing relationships with consumers.[29] In addition, GoPuff hired Amazon executive Maria Renz to oversee the company’s strategy and execution in North America. [30] With this hire, GoPuff founders aimed to leverage Renz's Amazon experience for more efficient practices. [31]

Much of GoPuff’s success can also be attributed to its founders’ goals for accountable, multidisciplinary, and transparent company culture.[32] As the startup company grew, GoPuff increasingly emphasized the importance of expanding independent oversight to improve strategy and persevere against competition.[33] GoPuff competes against DoorDash and Instacart to maintain its spot as the world’s go-to speedy delivery service. [34] To persist through the competition, the company maintains rules, practices, and procedures that welcome a multitude of perspectives and skill-sets.[35]

The Negative Impact of Governance and Business Strategy

Corporate governance frameworks often compel companies to make seemingly harsh decisions. [36] In 2022, GoPuff made a decision that eliminated 3% of their global workforce, affecting 15,000 employees.[37] The decision came after GoPuff’s expansion into Europe.[38] The decision was influenced by GoPuff appointed-executive, Bryan Batista, who took the role as Senior Vice President of International Business Strategy. [39] The company’s decision to eliminate 3% of their global workforce stemmed from the company's desire to expand internationally and overall improve the company’s financial performance. [40]

The Positive Impact of Corporate Governance and Serving Low-Income Communities

GoPuff took a unique twist in expanding its company through its collaboration with the United States Department of Agriculture (USDA). [41] Midway through 2025, GoPuff announced the expansion of its Supplemental Nutrition Assistance Program (SNAP) EBT payment options, allowing customers to check out using SNAP benefits on the GoPuff website. [42] "We’ve seen a great deal of SNAP orders coming from food deserts and areas with high concentrations of individuals with disabilities or seniors,” said Gola (Co-Founder of GoPuff).[43] This collaboration, with SNAP serving an average of 42.1 million people per month, was made possible through GoPuff’s corporate governing frameworks.[44] Through GoPuff’s method of collaboration governance, GoPuff became the first and only Instant Commerce company to gain USDA approval for accepting SNAP payments.[45]  In fact, GoPuff is uniquely positioned to help improve food access with its quick deliveries available at the click of a button.[46] Pennsylvania Senator John Fetterman shared the importance of this collaboration, emphasizing its potential to "significantly help people living in food deserts access healthy and nutritious food, and modernize the delivery of SNAP to the current day.”  By expanding its services to SNAP-eligible citizens, GoPuff further demonstrates its strong commitment to relying on its strong corporate governance frameworks to further the company mission and goals. [47]

Since 2019, the company has partnered with Feeding America to support food banks across the U.S., donating over 1.1 million pounds of food in 2024. [48] Through corporate governance, partnerships with non-profits, and the appointment of leaders committed to serving underrepresented communities, GoPuff has established a model for successful startups to align profit with social impact.[49] GoPuff sets a strong example for successful startups looking to prioritize both profit and social good.

However, the future is unknown. With the increased development, reliance, and threat of AI across the globe, a new branch of corporate governance – AI governance – is beginning to grow at a rapid pace. [50] AI governance relates to the processes, standards and guardrails that help ensure AI systems and tools are safe and ethical. [51] With the increased presence and risks associated with AI and the growth of AI governance, it will be interesting to see how large companies, like GoPuff, who already significantly rely on corporate governance, include AI governance into their preexisting frameworks.[52]

[1] Cornell Law School, Corporate Governance (2022), https://www.law.cornell.edu/wex/corporate_governance.

[2] Kayode Akinsola, The Evolving Role of Corporate Governance in Shaping Business Practices and Legal Accountability in the 21st Century, SSRN (January 28, 2025), https://papers.ssrn.com/sol3/papers.cfm?abstract_id=5115523# [https://dx.doi.org/10.2139/ssrn.5115523].

[3]  Id.

[4] Harvard Law School Forum on Corporate Governance, The Important Legacy of the Sarbanes Oxley Act (August 30, 2022), https://corpgov.law.harvard.edu/2022/08/30/the-important-legacy-of-the-sarbanes-oxley-act/.

[5] Id.

[6] Id.

[7] Joanna Ayibam, Artificial Intelligence in Public Procurement: Legal Frameworks, Ethical Challenges, and Policy Solutions for Transparent and Efficient Governance (August 15, 2025), http://gnosipublishers.com.ng/index.php/alkebulan/article/view/24.

[8] Harvard Law School Forum on Corporate Governance, Largest Companies View AI as a Risk Multiplier (November 20, 2024), https://corpgov.law.harvard.edu/2024/11/20/largest-companies-view-ai-as-a-risk-multiplier/.

[9] Joanna Ayibam, Artificial Intelligence in Public Procurement: Legal Frameworks, Ethical Challenges, and Policy Solutions for Transparent and Efficient Governance (August 15, 2025), http://gnosipublishers.com.ng/index.php/alkebulan/article/view/24.

[10] Id.

[11] Business Wire, Gopuff Appoints Betsy Atkins as First Independent Board Member, (2021), https://www.businesswire.com/news/home/20210412005665/en/Gopuff-Appoints-Betsy-Atkins-as-First-Independent-Board-Member.

[12] GoPuff, Where does GoPuff Deliver? (November 3, 2020), https://www.gopuff.com/blog/news/where-does-gopuff-deliver.

[13] Id.

[14] Joseph DiStefano, GoPuff Boosts Sales, Crowds Neighbors as Coronavirus Orders Surge (April 6, 2020), https://www.inquirer.com/business/phillydeals/gopuff-coronavirus-traffic-complaints-20200406.html.

[15] Gopuff, A Look at Gopuff’s Year of Hypergrowth (December 22, 2021), https://www.gopuff.com/newsroom/company-news/a-look-at-gopuffs-year-of-hypergrowth.

[16] Id.

[17] Id.

[18] Betsy Atkins, Why Startups Are Increasingly Prioritizing Corporate Governance As Their Businesses Scale, Forbes (2021), https://www.forbes.com/sites/betsyatkins/2021/04/12/why-startups-are-increasingly-prioritizing-corporate-governance-as-their-businesses-scale/.

[19] Id.

[20] Id.

[21] Id.

[22] Id.

[23] Business Wire, Gopuff Appoints Betsy Atkins as First Independent Board Member, (2021), https://www.businesswire.com/news/home/20210412005665/en/Gopuff-Appoints-Betsy-Atkins-as-First-Independent-Board-Member.

[24] Id.

[25] Id.

[26] Id.

[27] Sam Silverstein, Gopuff Lands Former Disney CEO Bob Iger as Investor and Advisor (May 18, 2022), https://www.grocerydive.com/news/gopuff-disney-bob-iger-investor-advisor/623979/.

[28]  Id.

[29] Id.

[30] Business Wire, Gopuff Appoints Maria Renz as Senior Vice President of North America (April 14, 2022), https://www.businesswire.com/news/home/20220414005781/en/Gopuff-Appoints-Maria-Renz-as-Senior-Vice-President-of-North-America.

[31] Id.

[32] Betsy Atkins, Why Startups Are Increasingly Prioritizing Corporate Governance As Their Businesses Scale, Forbes (2021), https://www.forbes.com/sites/betsyatkins/2021/04/12/why-startups-are-increasingly-prioritizing-corporate-governance-as-their-businesses-scale/.

[33] Id.

[34] Jake Sterin, Contrary Research Report: Gopuff (March 23, 2023), https://research.contrary.com/company/gopuff.

[35] Id.

[36] Jeff Wells, Gopuff Laying off 3% of its Global Workforce (April 1, 2022), https://www.grocerydive.com/news/gopuff-laying-off-3-of-its-global-workforce/621417/.

[37] Id.

[38] Id.

[39]Id.

[40] Id.

[41] Gopuff, Gopuff Sees Strong SNAP Growth, Expands EBT Payment Options (July 16, 2025),

https://www.gopuff.com/newsroom/community-impact/gopuff-strong-snap-growth-expands-ebt-payment-options.

[42] Id.

[43] Id.

[44] Business Wire, Gopuff Becomes First Instant Commerce Company to Accept SNAP EBT Nationwide (Nov 1, 2024), https://www.businesswire.com/news/home/20241101587787/en/Gopuff-Becomes-First-Instant-Commerce-Company-to-Accept-SNAP-EBT-Nationwide.

[45] Id.

[46] Id.

[47] Id.

[48] Id.

[49] Id.

[50] Tim Mucci What is AI Governance, IBM, https://www.ibm.com/think/topics/ai-governance.

[51] Id.

[52] Id.