TIDMOCDO
RNS Number : 2410J
Ocado Group PLC
18 December 2020
DIRECTORATE CHANGES
OCADO GROUP PLC
18 December 2020
This announcement contains inside information
Ocado Group plc
Appointment of Chairman Designate
Ocado Group plc ( "Ocado Group" or the "Company"), the pioneer
of online grocery, today announces that it intends to appoint
Richard ("Rick") Haythornthwaite as independent non-executive
Chairman of the Board at its AGM in May 2021 to replace Stuart
Rose, who will be retiring from the role after eight years of
service.
Rick, who will join the Board as an independent Non-Executive
Director with effect from 1 January 2021 before assuming the
Chairman's role after Ocado's AGM in May, brings a wealth of
relevant experience as chairman, non-executive director, and CEO of
a wide range of companies. He is currently Chairman of Mastercard
Inc., which he joined just before the IPO of the company in 2006,
and he will retire from this position at the end of the year. Rick
is also the chairman and co-founder of QiO Technologies Ltd, an
advanced analytics and AI software company. He has previously
served as CEO of listed companies Invensys plc and Blue Circle
Industries plc. His other senior board appointments have included
Cookson Group plc, Lafarge SA, Imperial Chemical Industries plc,
Land Securities plc, Network Rail Limited, Better Regulation
Commission and Centrica plc.
Lord Rose will remain Chairman of the Board to ensure a smooth
handover of responsibilities to Rick in May. Rick will be a member
of the Nomination Committee and will chair that committee after
Lord Rose's retirement.
Tim Steiner, Chief Executive Officer of Ocado Group, said:
"As Chairman, Stuart has overseen the transformation of the
business from a UK-focused FTSE 250 online grocer to a FTSE-100
global technology company. His guidance, counsel and strategic
vision have been invaluable to the Board, and to me personally, as
we have grown the business in a sustainable way to the benefit of
all our stakeholders. His legacy will endure for many years to
come. At the same time, I am delighted to welcome Rick as our new
Chairman. He has substantial experience of leading and chairing a
range of high profile industrial and technology companies. He will
play a key role helping us to navigate a post-COVID future in which
the landscape of the grocery market worldwide is changing for good
and, using his experience at Mastercard, to help us scale up and
take advantage of the very significant global opportunities
ahead."
Lord Rose, Chairman of Ocado Group said:
"It has been a privilege to be the Chairman of Ocado Group over
the last eight years and to have helped steer the business to where
it is today, a world-leading online grocer and solutions provider
driving unprecedented change in the industry. The extraordinary
creativity, problem-solving, resilience, and adaptability shown by
the people of Ocado Group has been in evidence particularly through
the COVID crisis and I know that these qualities will serve the
business well in the years to come. "
Rick Haythornthwaite said:
"It will be an honour to work with Tim, the Board, and all the
team, to build on the extraordinary progress of Ocado Group on its
journey to become a global solutions provider to the grocery
industry. As Stuart hands over the baton, I know that this is a
business in great shape, well prepared for the velocity of growth
ahead of it, and I look forward to playing my part in writing a new
chapter in the remarkable story that is Ocado Group."
Contacts:
-- Tim Steiner, Chief Executive Officer, on 01707 228 000
-- David Shriver, Director of Communications, on 01707 228 000
-- Martin Robinson, Tulchan Communications, on 020 7353 4200
Notes:
1. Richard Haythornthwaite is currently the chairman of
Mastercard Inc., a role he has held for 14 years and will retire
from at the end of this year. Richard is a non-executive director
at the digital services company Globant S.A. as well as the
chairman and founder of QiO Technologies Ltd and chairman of
Xynteo, an ESG consultancy. Previously Richard held the position of
chairman at Centrica plc and Network Rail Limited, CEO at Blue
Circle Group plc and Invensys plc, and non-executive directorships
at Land Securities Group plc, Imperial Chemical Industries plc,
Lafarge SA and Cookson Group plc. Richard has an MA in Business
Management from Massachusetts Institute of Technology and an MA in
Geology from The Queen's College, Oxford University.
2. Richard Haythornthwaite will be a member of the Board's
Nomination Committee and will chair this committee from 13 May
2021.
3. For the purposes of Listing Rule 9.6.13(1), Richard
Haythornthwaite is currently the non-executive chairman of
Mastercard, Inc. and a non-executive director of Globant S.A. In
the previous five years, Richard held a non-executive directorship
in Centrica plc, from which he resigned in 2019. There are no
further details to be disclosed relating to Richard under Listing
Rule 9.6.13R.
4. Details of Richard Haythornthwaite's remuneration will be
made available in due course on the Company's website
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
This information is provided by RNS, the news service of the
London Stock Exchange. RNS is approved by the Financial Conduct
Authority to act as a Primary Information Provider in the United
Kingdom. Terms and conditions relating to the use and distribution
of this information may apply. For further information, please
contact rns@lseg.com or visit www.rns.com.
RNS may use your IP address to confirm compliance with the terms
and conditions, to analyse how you engage with the information
contained in this communication, and to share such analysis on an
anonymised basis with others as part of our commercial services.
For further information about how RNS and the London Stock Exchange
use the personal data you provide us, please see our Privacy
Policy.
END
BOAFFLFAAESSEEE
(END) Dow Jones Newswires
December 18, 2020 13:25 ET (18:25 GMT)
Ocado (LSE:OCDO)
Historical Stock Chart
From Apr 2024 to May 2024
Ocado (LSE:OCDO)
Historical Stock Chart
From May 2023 to May 2024