REG - Ocado Group PLC - Directorate Change

OcadoAnnouncement

04/04/2024 07:00

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RNS Number : 2234J  Ocado Group PLC  04 April 2024

 

 

 

4 April 2024

Ocado Group plc

 

 

Ocado Group plc

Directorate Change

 

 

Ocado Group plc ("Ocado" or the "Company") is announcing today that due to his
increasing commitment as the recently appointed Group Chair of NatWest Group
plc, Rick Haythornthwaite will not seek re-election to the Ocado Board at its
AGM in April 2025.

 

Mr Haythornthwaite explained:

 

"Since the announcement of my appointment as Group Chair of NatWest I have
given extensive thought to my workload, listened to all parties and reflected
on how I ensure that I deliver effectively on all fronts. With the benefit of
time and greater visibility of the expected growth in requirements of the
publicly-listed portfolio, it has become evident that pressure on my time is
likely to increase over the medium term. Given that Ocado has a strong and
stable Board, a high-quality management team as well as good momentum in
business performance, I have made public my intention to step down a year from
now to ensure that the Company has sufficient time for a measured Chair
succession."

 

On behalf of Ocado, Tim Steiner, Chief Executive Officer and Founder,
commented:

 

"Needless to say, we will be disappointed to lose Rick but we fully understand
the reasons why he is stepping down as Chair to focus on his new role at
NatWest. Rick has done a great job strengthening corporate governance,
providing the executive team with wise advice and, together with a renewed and
refocused Board, helping us grow the business over the last three years. We
are pleased that he will continue as Chair for the next twelve months,
allowing us plenty of time to find a suitable replacement and ensure an
orderly transition. We are confident that we can then further build on the
strong foundations that Rick has helped put in place."

 

Contacts:

●     Stephen Daintith, Chief Financial Officer

●     David Shriver on investor.relations@ocado.com

 

 

 

 

The person responsible for arranging the release of this announcement:

 

Robert Cooper

Chief Compliance Officer

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 (mailto:company.secretary@ocado.com)

 

Ocado Group plc LEI: 213800LO8F61YB8MBC74

 

 

 

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