Ocado has revealed that Adam Warby, the chair of KKR, will take over from Rick Haythornthwaite as its chairman come December.
Warby, who also chairs management consultancy Heidrick & Struggles and has held senior roles at tech giants Microsoft and IBM, is set to lead Ocado's board following Haythornthwaite's decision to concentrate on his role as chair of Natwest since January this year, as reported by .
The transition is occurring earlier than anticipated; Haythornthwaite had previously indicated he would remain until April next year during the company's annual general meeting.
Haythornthwaite expressed his enthusiasm about the appointment: "I am delighted to welcome Adam to Ocado's board as my successor at an important time in the Company's development."
He reflected positively on his tenure: "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."
He also conveyed his confidence in Warby's future leadership: "I look forward to seeing this market leading business continue to thrive under Adam's stewardship in the years to come."
Warby shared his anticipation for the new role: "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 º£½ÇÊÓƵ."
He added his outlook on the company's future: "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."
The company, which offers online grocery delivery and B2B robotics and automation services, is yet to turn a profit. However, CEO Tim Steiner has expressed confidence in the company's future, outlining a "clear road-map" to profitability by 2026.
Despite this, investor sentiment appears to be growing more cautious regarding the company's prospects.
Steiner further commented: "Adam joins us as chair designate at an important moment in Ocado's development."
He continued, highlighting the company's technological advancements: "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."
Steiner concluded by emphasising the strategic importance of the new appointment: "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."
