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Ocado Group has confirmed that its CEO Tim Steiner and its board are currently engaging in long-term CEO succession planning and is in contact with potential candidates.
The news comes following reports from Sky News over the weekend (21 June that Niklas Heuveldop, chief executive of Vonage, a subsidiary of Sweden’s Ericsson, has been considered for the role.
The search is being led by chair Adam Warby, who has held the position for the last 18 months. In a statement to investors today (22 June, the business said, “Ocado confirms that the chief executive and the board continually engage in long-term succession planning and regularly engage with potential candidates.”
Steiner, who co-founded Ocado in 2000, has been the driving force behind its transition from an online grocer to a global technology solutions provider. The succession plan will mark a major transition in leadership for the first time in 25 years.
The company has faced pressure from investors, with concerns as to whether the company will ever be sustainably profitable. This comes as it announced at the end of last year that many of its exclusive agreements with partners across most of its international markets had ended. Earlier this year, the company announced it would cut 1,000 roles as part of a wider restructuring to reduce costs.
Ocado is currently in disputes with Marks and Spencer concerning its online partnership over a £190m payment linked to their joint venture. Meanwhile, it has unveiled a new ongoing partnership with Asda to improve the grocery shopping experience for customers.
