Ocado's co-founder and chief executive officer, Tim Steiner, is set to step down from his leadership role by December 2027, the company confirmed amid ongoing speculation about its succession plans. Steiner, who helped establish the grocery technology firm in 2000 and led its initial public offering in 2010, will continue as CEO until the start of the 2027-28 financial year and then transition to an advisory "founder role" through 2029.

The decision follows reports of internal boardroom tensions, with chairman Adam Warby reportedly playing a central role in orchestrating Steiner's exit. Warby is believed to have approached Niklas Heuveldop, CEO of Ericsson subsidiary Vonage, as a potential replacement for Steiner. While some shareholders had pushed back against calls for Steiner to leave, urging instead that Warby step down, the chairman's position on the board is considered secure.

Despite the leadership changes announced, Ocado emphasized that Steiner remains committed to advancing the company's strategy, operations, and growth initiatives during the transition period. The board described the succession process as collaborative and focused on ensuring the firm's long-term success.

Following the announcement, Ocado's shares experienced a decline of approximately 3 percent in early trading. This movement reflects investor concerns amid recent falls in the company's stock price, which some reports attribute to uncertainties surrounding the leadership shake-up.

Ocado's management reiterated confidence in a smooth transition, with Steiner maintaining a strategic advisory role beyond his stepping down as CEO. The formal appointment of his successor is expected to be finalised at the onset of the financial year beginning December 1, 2027.