TIDMOCDO
RNS Number : 0258E
Ocado Group PLC
27 June 2023
DIRECTORATE CHANGES
OCADO GROUP PLC
27 June 2023
Ocado Group plc
Board Changes
Ocado Group plc ("Ocado" or the "Company") announces that Rachel
Osborne has been appointed as an Independent Non-Executive Director
with effect from 1 September 2023. Rachel will also be a member of
the Audit Committee and the People Committee, such appointments
taking place on the date of her appointment to the Board.
Rachel Osborne was the Chief Executive Officer of Ted Baker,
stepping down from the role in June 2023, and has previously served
as the Chief Financial Officer of Debenhams plc, Domino's Pizza
Group plc and was Finance Director of John Lewis Division within
the John Lewis Partnership. Rachel brings a wealth of executive
experience in large, global organisations and has both strong
retail and consumer experience and business to business
experience.
Rick Haythornthwaite, Chairman of Ocado, said:
"I am delighted to welcome Rachel to our Board. Rachel's
significant executive experience and strategic approach will be a
valuable addition to the Board and I look forward to working with
her."
Tim Steiner, Chief Executive Officer of Ocado, said:
"I am very excited to welcome Rachel to our Board. Rachel's
significant experience in transformation and her commercial mindset
will be a real asset as Ocado Group continues to expand globally
and seeks to enter into new non-grocery markets."
Commenting on her decision to join the Ocado Board, Rachel
said:
"I am delighted to be joining the Ocado Group Board at an
exciting time for the Group with new innovations driving efficiency
and growth to deliver existing and new opportunities globally. I am
looking forward to working with the rest of the Board to continue
Ocado's journey."
Director retirement
The Company further announces that Michael Sherman will retire
from the Board with immediate effect providing him more time to
focus on his expanded executive role at Barclays UK.
Rick Haythornthwaite, Chairman of Ocado, said:
"The Board is grateful to Michael for his service and
contributions to the Company and as a member of the Audit and
People Committees during his tenure. I personally wish him every
success in the future."
Contacts:
-- Tim Steiner, Chief Executive Officer, on 01707 228 000
-- David Shriver, Chief Reputation Officer, on 01707 228 000
-- Martin Robinson/Jessica Reid, Teneo, on 020 7353 4200
Notes:
1. Rachel Osborne was Chief Executive Officer at Ted Baker
(which was acquired by Authentic Brands Group in 2022) until 15
June 2023, and was previously Chief Financial Officer at Ted Baker
plc, Debenhams plc and Domino's Pizza Group plc, and held Finance
Director roles at Vodafone Group plc and John Lewis Partnership.
She was a non-executive director of Dunelm Group plc in 2018 but
stepped down, as this would have been a conflict, when she joined
Debenhams plc. Rachel holds an MA in Veterinary Medicine from the
University of Cambridge.
2. For the purposes of Listing Rule 9.6.13(1)R, Rachel Osborne
was a non-executive director of Dunelm Group plc within the
previous five years but no longer holds this position.
3. For the purposes of Listing Rule 9.6.13(3)R, Rachel was a
Director at the time the following Debenhams entities went into
administration/compulsory liquidation:
-- Debenhams plc - went into administration in April 2019 and
compulsory liquidation in May 2020, part of the financial
restructuring and move from a publicly listed entity into the
private sector;
-- Department Stores Realisation (Properties) Limited (formerly
Debenhams Properties Limited) - compulsory voluntary arrangement
May 2019, administration April 2020;
-- Department Stores Realisations Limited (formerly Debenhams
Retail Limited) - compulsory voluntary arrangement May 2019,
administration April 2020; and
-- Celine Group Holdings Limited (formerly Debenhams Group
Holdings Limited) - administration August 2020.
In accordance with the Listing Rules, there are no additional
matters that would require disclosure under 9.6.11R nor 9.6.13R of
the Listing Rules of the UK Financial Conduct Authority.
4. As Non-Executive Director Rachel Osborne will be paid an
annual fee of GBP79,664 per annum, and an additional fee of
GBP8,112 in respect of her membership of the Audit Committee, in
line with the Directors' Remuneration Policy.
5. The remuneration details relating to Michael Sherman's
departure, in compliance with section 430(2B) of the Companies Act
2006 will be made available in due course on the Company's website
at www.ocadogroup.com .
6. Michael Sherman was a member of the Ocado Group Audit
Committee and the People Committee.
The person responsible for arranging the release of this
announcement:
Neill Abrams
Group General Counsel and Company Secretary
Ocado Group plc
Buildings One & Two Trident Place
Mosquito Way
Hatfield
Hertfordshire
AL10 9UL
Tel: +44 (0)1707 228 000
Email: company.secretary@ocado.com
Ocado Group plc LEI: 213800LO8F61YB8MBC74
This information is provided by RNS, the news service of the
London Stock Exchange. RNS is approved by the Financial Conduct
Authority to act as a Primary Information Provider in the United
Kingdom. Terms and conditions relating to the use and distribution
of this information may apply. For further information, please
contact rns@lseg.com or visit www.rns.com.
RNS may use your IP address to confirm compliance with the terms
and conditions, to analyse how you engage with the information
contained in this communication, and to share such analysis on an
anonymised basis with others as part of our commercial services.
For further information about how RNS and the London Stock Exchange
use the personal data you provide us, please see our Privacy
Policy.
END
BOAPPUBAQUPWUAM
(END) Dow Jones Newswires
June 27, 2023 02:02 ET (06:02 GMT)
Ocado (LSE:OCDO)
Historical Stock Chart
From Jun 2024 to Jul 2024
Ocado (LSE:OCDO)
Historical Stock Chart
From Jul 2023 to Jul 2024