Ocado Group PLC Board Changes (3003H)
July 27 2023 - 2:00AM
UK Regulatory
TIDMOCDO
RNS Number : 3003H
Ocado Group PLC
27 July 2023
27 July 2023
OCADO GROUP PLC ("Ocado" or "the Company")
Director Changes
Ocado Group plc today announces that Luke Jensen has notified
the Board of his intention to retire and will step down from the
Board as Executive Director and CEO of Ocado Solutions with effect
from 30 September 2023 to focus on external non-executive director
positions. Luke has been CEO of Ocado Solutions since 2017 and a
member of the Board since 2018.
During his time at Ocado, Luke has played an instrumental role
in building the Ocado Solutions business globally. From signing the
first international partnership with Bon Preu in 2017, to the most
recent agreement with Lotte in Korea, Ocado Solutions is now
partnered with twelve of the world's biggest and most exciting food
retailers whose online businesses are powered by Ocado's
technologies, delivering the best customer experience for grocery
online with superior economics.
The Company further announces that John Martin, current
Non-executive Director at Ocado will be appointed as CEO of Ocado
Solutions on 1 September 2023, allowing a period of time for a
thorough handover from Luke Jensen before he retires at the end of
September 2023. On appointment into this role, John Martin will
cease to be a member of the Board and will step down as Chair of
the Audit Committee and as a member of the People Committee.
Tim Steiner, Chief Executive Officer of Ocado, said:
"Over the last six years, Luke has played a key role in our
transformation into a global technology solutions business. He
leaves our Solutions business in a strong position to drive future
growth, having recently established a global regional structure,
with the appointments of regional presidents and the creation of a
global Partner Success organisation. We wish him well and thank him
for his contribution to Ocado. Luke will be supporting the
transition over the coming months."
Rick Haythornthwaite, Chairman of Ocado, said:
"I would like to thank Luke on behalf of the Board for his
valuable contribution to the Company, the Board and Ocado
Solutions. I am delighted that John Martin will step into this role
to deepen further the support of our clients as well as help shape
our strategic direction and performance culture. John has extensive
strategic, operational and financial management experience of
running large international businesses. The Board believes he is
the right successor to Luke with the required credentials to build
on a strong foundation."
Commenting on his decision to step down from the Ocado Board,
Luke commented:
"I am proud and honoured to have played a part in the
transformation of Ocado from a UK retail company to a global leader
in technology solutions. With the roll-out of its latest
innovations underway, Ocado is better placed than ever to support
its partners to win in their markets, and to forge new partnerships
with leading grocers across the globe. I wish Ocado every success
for the future."
Audit Committee Composition
As a result of John Martin's change in role, Ocado further
announces that Rachel Osborne, due to join the Board as a
Non-executive Director on 1 September 2023, will assume the role of
Audit Chair with effect from the same date. Rachel previously
served as the Chief Financial Officer of Debenhams plc, Domino's
Pizza Group plc and was Finance Director of the John Lewis Division
within the John Lewis Partnership.
Contacts:
-- Tim Steiner, Chief Executive Officer, on 01707 228 000
-- David Shriver, Chief Reputation Officer, on 01707 228 000
-- Martin Robinson, Tulchan Communications, on 020 7353 4200
Notes:
1. There are no other details to disclose under paragraph 9.6.13 of the Listing Rules.
2. More information related to Luke and John's remuneration for
2022/23 will be detailed in the Directors' Remuneration Report in
the 2022/23 Annual Report and Accounts.
3. The remuneration disclosures required pursuant to section
430(2B) of the Companies Act 2006 will be made available in due
course on the Company's website at www.ocadogroup.com.
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
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END
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