DIRECTORATE CHANGE
OCADO GROUP PLC
31
October 2024
Ocado Group
plc
Appointment of Chair
Designate
Ocado Group plc ("Ocado" or the
"Company") today announces the appointment of Adam Warby as an
independent Non-Executive Chair of the Board. Adam will join the Board as an
independent Non-Executive Director with effect on 1 November 2024,
before assuming the role of Chair on 1 December 2024. Following
this period of transition, current Chair, Richard ("Rick")
Haythornthwaite will step down as Chair and from the Board. Adam
will also be a member of the People Committee on joining the
Board.
Adam has extensive executive
experience in the technology sector and relevant chair experience
at a range of international companies. He currently serves as Chair
of Heidrick & Struggles International Inc., a premier provider
of global leadership advisory and on-demand talent solutions listed
on NASDAQ. Previously he served as Chair of SoftwareOne Holding AG,
the Swiss enterprise software and cloud advice firm and as
Non-Executive Director at SimCorp A/S, a leading Fintech provider.
Adam joined Avanade Corporation, a global IT consulting and
services company, as a founding member in 2000 and served as their
CEO for 11 years (and has been the CEO Emeritus since 2019). Adam's
early career was working in consulting and management roles for ten
years at Microsoft and in hardware and software sales for five
years at IBM.
Rick Haythornthwaite, Chair of Ocado, said:
"I am delighted to welcome Adam to
Ocado's Board as my successor at an important time in the Company's
development. It has been a huge pleasure to be the Chair of Ocado
over the last four years and to have had the opportunity to help a
visionary technology business that continues to drive change in the
online grocery industry and beyond. I look forward to seeing this
market leading business continue to thrive under Adam's stewardship
in the years to come."
Commenting on his decision to join the Ocado Board, Adam Warby
said:
"It is a huge honour to join the
Ocado Board as Chair Designate. Ocado is a unique and innovative
business, and a tremendous success story for the UK. I'm excited
about the opportunities ahead, working with a visionary leadership
team, an experienced Board, and the many talented colleagues across
Ocado to grow the business and create greater value for our
shareholders."
Tim
Steiner, Chief Executive Officer of Ocado, said:
"Adam joins us as Chair Designate at
an important moment in Ocado's development. Our world-leading
technology is now live with 11 of our 13 partners globally, and we
continue to expand the scope and reach of our technology into new
markets and sectors. As we work with our partners to scale their
online capabilities and hone their operations, Adam's expertise as
a leader in global technology and consulting will be a valuable
asset to the Board and leadership team.
As Chair, Rick has overseen the
continued growth of the global technology business. His sage advice
and strong leadership have been greatly appreciated by the Board
and all colleagues at Ocado."
Senior Independent Director
In addition to these Board changes,
we have agreed an extension of Andrew Harrison's tenure as Senior
Independent Director and Designated Non-Executive Director for
workforce engagement for an additional 12 months beyond the
conclusion of his nine year term on 1 March 2025. Andrew has a deep
understanding of the business and he will help provide the Board
and leadership team with stability and continuity during the Chair
succession process.
Contacts:
· Tim Steiner,
Chief Executive Officer, on +441707 228 000
· Nick Coulter,
Head of Investor Relations, on +441707 228 000
· Jamie Kerr,
Global Head of Communications, on +441707 228 000
· Lucy Legh,
Headland Consultancy - ocadogroup@headlandconsultancy.com on +44
(0) 20 3805 4822
Notes:
1. Adam Warby currently
serves as Chair of Heidrick & Struggles International Inc., a
premier provider of global leadership advisory and
on-demand talent solutions listed on
NASDAQ. He is also a Senior Advisor for
Kohlberg Kravis Roberts & Co. LP (KKR). He served as Chair of
SoftwareOne Holding AG, the Swiss enterprise software and cloud
advice firm until April 2024 and between 2017 and 2023 and served
as Non-Executive Director at SimCorp A/S, a leading Fintech
provider to global Asset Management businesses. In 2000, he joined
Avanade Corporation, a global IT consulting and services company,
as a founding member and served as CEO from 2008 to 2019 (and has
been the CEO Emeritus since 2019). He was also, between 2017 and
2023, the Chair of Junior Achievement Europe, a youth focused
non-profit providing programmes for entrepreneurship and work
readiness, as part of expanding Avanade's Corporate Citizenship
mission. Prior to joining Avanade, Adam held a number of management
and sales roles at Microsoft Corporation and earlier, at IBM. Adam
holds a BSc in Mechanical Engineering from Imperial College
London.
2. For the purposes of Listing Rule 6.4.8(1)R, Adam is currently
Chair of Heidrick & Struggles International Inc, listed on
NASDAQ. Within the previous five years, Adam was Chair of
SoftwareOne, listed on the SIX Swiss Exchange and a Non-Executive
Director of SimCorp A/S, listed on the Nasdaq Copenhagen Exchange
until 2023. He no longer holds these positions. There is no other
information required to be disclosed pursuant to Listing Rule
6.4.8R.
3. Adam Warby will be
paid in accordance with the current Directors' Remuneration Policy.
As a Non-Executive Director he will receive an annual fee of
£82,691. On becoming Chair the fee will increase to £400,000 per
annum.
The person responsible for arranging the release of this
announcement:
Robert Cooper
Chief Compliance Officer
Ocado Group plc
Buildings One & Two Trident
Place
Mosquito Way
Hatfield
Hertfordshire
AL10 9UL
Email: company.secretary@ocado.com
Ocado Group plc LEI:
213800LO8F61YB8MBC74