28 July 2022
Ocado Group plc
Ocado Group announces Board and executive changes
The Board of Ocado Group would like to announce the following changes to the executive responsibilities of Board member Mark Richardson.
Mark, currently Chief Operating Officer, will shortly be taking up a new role as the CEO of our new business extending Ocado's product offering into new market sectors alongside grocery.
Tim Steiner, Chief Executive Officer of Ocado Group, said:
"In 2020 Ocado Group expanded outside of our core grocery focus with the acquisitions of Kindred Systems and Haddington Dynamics. With the upcoming launch of our Re:Imagined Ocado Smart Platform ('OSP') products, Ocado Group will have a product range that will set an unrivalled level of performance both in price and throughput, not only in grocery, but can also be adapted for automated storage and retrieval systems (ASRS) used in a wide range of market sectors. Ocado Group will soon start a new business segment that combines these activities and over the next few years will revolutionise the whole ASRS and robotic handling sectors. I am delighted to confirm that Mark Richardson will lead this new venture. Mark is a 20-year Ocado veteran and during this time has been responsible for teams spanning technology, platform implementation, and logistics. He also has extensive experience of working directly with the Materials Handling Equipment (MHE) sector."
This new venture will be self-financing and will not require any additional capital beyond that we have previously guided.
David Shriver, Director of Communications, on 01707 228 000
Martin Robinson at Tulchan Communications on 020 7353 4200
Person responsible for arranging the release of this announcement:
Group General Counsel and Company Secretary
Ocado Group plc
Buildings One & Two Trident Place
Tel: +44 (0)1707 228 000
Ocado Group plc LEI: 213800LO8F61YB8MBC74