Ocado sets CEO Tim Steiner exit timetable

Ocado has set out a detailed succession plan for its founder and chief executive, Tim Steiner, confirming that he will continue to serve as CEO until the start of the company’s 2028 financial year. The 2028 financial year begins in December 2027, establishing a clear timeframe for leadership transition at the online grocery and technology group.

The company said it expects the succession process to conclude around the start of that financial year. Steiner will continue to lead the business throughout fiscal 2027 and until a successor is appointed, providing continuity during the transition.

Once a new chief executive is in place, Steiner will move into a newly created founder role. In this position, he is expected to remain actively involved with Ocado through 2029, focusing on strategic guidance and supporting both the board and the management team.

The company described the new role as centred on providing deep market expertise and ongoing support rather than day-to-day executive responsibilities. By separating the founder role from the CEO position, Ocado aims to preserve continuity in long-term strategy while enabling new operational leadership.

The succession plan was announced after weeks of media speculation and a reported boardroom tussle over Steiner’s future at the company. Reports indicated that some board members and shareholders had sought a replacement, prompting scrutiny of Ocado’s leadership arrangements.

The company framed the new timetable as the outcome of a succession planning process involving Steiner and the board. It said the arrangements are designed to support the group’s long-term development and to ensure an orderly handover of executive responsibilities when the new CEO is appointed.

Ocado stated that Steiner remains committed to driving the company’s strategy, operations and growth initiatives until the succession process is complete. By specifying that he will stay in charge through fiscal 2027, the group seeks to reassure stakeholders that day-to-day leadership will remain stable during the search for a successor.

The board plans to work with Steiner to identify and integrate the next chief executive ahead of the 2028 financial year. The company indicated that it aims for a smooth and orderly transition, with Steiner’s founder role providing continuity and support for the incoming leadership team through 2029.