Ocado’s Steiner Steps Down But Stays On | London News

Ocado’s co-founder and CEO Tim Steiner is stepping down in two years but will stay on as a “founder role” for a year to guide the transition — no puppet-master plans, just stability. Amid a 15% stock plunge and a shocking 600M-pound profit drop, rumors swirl of boardroom tension over succession. Steiner insists he’s not blocking a new CEO, but market nerves remain. Still, Ocado’s future looks active: U.S. client signings on the horizon, new distribution centers in Korea, Japan, and Arizona, and a booming Marks & Spencer joint venture. Cash flow remains positive, and Steiner’s confidence is intact — even if the path ahead is rocky. Listen in comfort:Get a discount on a Soli Pillow: http://solipillow.com/discount/dnn. Advertise on DNN:[email protected] This is an automated, high-level news summary based on public reporting.Report issues to [email protected]. View sources & latest updates:https://sources.thednn.ai/9aba47dba9c1f43d