Ocado Founder Tim Steiner to Step Down as CEO

Ocado's founder and chief executive, Tim Steiner, announced his intention to step down from his leadership role in 2028. Steiner, who co-founded the online grocer in 2000 with two former Goldman Sachs bankers, will continue to serve as chief executive until the beginning of the 2028 financial year, which commences in December 2027. During this transition period, the company aims to identify and onboard a successor. Following his departure as CEO, Steiner is expected to transition into a 'founder role' for an additional year, maintaining a connection with the company he helped establish. This announcement follows weeks of speculation regarding the leadership of the online grocery company. Steiner's tenure has been marked by the growth of Ocado from a startup to a significant player in the online grocery and technology sectors, particularly with its automated warehouse technology.