Ocado CEO Tim Steiner to step down in 2028

Tim Steiner, the co-founder and chief executive of Ocado, will step down from his leadership role at the start of the company's 2028 financial year, the British technology and online grocery firm announced on Monday. He will continue to lead the business for the next two financial years while the board searches for his successor, with the transition process expected to conclude by early 2028.

Following the appointment of a new chief executive, Steiner will move into a founder role to provide strategic guidance and market expertise, remaining actively involved with the company through 2029. The company stated that the board and Steiner have been engaged in a thoughtful and collaborative succession planning process designed to support Ocado's long-term success.

The confirmation follows weeks of speculation and reported boardroom discussions over leadership. In June, the company acknowledged it was engaged in long-term succession planning and was in contact with potential candidates. Reports had indicated that chairman Adam Warby, who is leading the search, had approached Niklas Heuveldop, the chief executive of Ericsson-owned Vonage, as a potential successor. This process...