Ocado Group co-founder Tim Steiner will remain chief executive officer until the start of the 2028 financial year. This extension follows speculation regarding leadership changes after share price declines and setbacks with North American partners.
The board initiated this planned transition to ensure continuity while seeking a successor. Steiner will move into a founder role through 2029 once a new CEO is appointed.
In his subsequent role, Steiner will provide strategic guidance to the board and management. The company intends for this announcement to stabilize investor and client confidence during a challenging period.