Ocado Group has announced that co-founder and Chief Executive Officer Tim Steiner will remain in his role until the end of December 2027, confirming its succession plans after a period of uncertainty. The company intends to finalize the appointment of his successor at the start of its 2027-28 financial year, which begins on December 1, 2027.

Following the handover, Steiner is expected to continue his involvement with Ocado in a “founder role,” providing strategic guidance and advice to the board and management through to 2029. This move comes amid earlier reports of boardroom pressure following significant declines in Ocado’s share price, which had fueled speculation about a leadership change.

Ocado operates a grocery retail business in partnership with Marks & Spencer, alongside a technology division that develops robotic warehouse solutions and platforms for supermarkets. Earlier this year, the company announced plans to cut approximately 1,000 jobs globally—around 5 percent of its workforce—primarily at its Hertfordshire headquarters as part of a broader restructuring initiative.

The company’s confirmation of Steiner’s extended tenure aims to provide clarity and stability as it navigates market challenges and seeks to maintain its position in the competitive retail technology sector.