Ocado will see a leadership change as Adam Warby takes over as chairman from Rick Haythornthwaite starting December 1, 2023.
- Warby, with a background at KKR, Heidrick & Struggles, Microsoft, and IBM, brings extensive experience to Ocado’s strategic direction.
- Haythornthwaite steps down to concentrate on his role at Natwest, following four transformative years with Ocado.
- Investor sentiment remains cautious as Ocado continues its journey towards profitability, expected by 2026.
- CEO Tim Steiner and outgoing chairman Haythornthwaite express confidence in Warby’s leadership to drive future growth.
Ocado has announced a significant change in its leadership as Adam Warby is set to become its new chairman, effective December 1, 2023. Warby, who currently chairs KKR and has held notable positions at management consultancy Heidrick & Struggles, as well as at technology behemoths Microsoft and IBM, is expected to drive the company forward as it navigates its future strategy. His appointment comes earlier than initially expected, as Rick Haythornthwaite, who had planned to stay until April next year, now steps down to focus on his existing responsibilities as chairman of Natwest.
Haythornthwaite expressed his enthusiasm about Warby joining the board, highlighting the importance of this transition at a critical juncture in Ocado’s journey. “I am delighted to welcome Adam to Ocado’s board as my successor at an important time in the Company’s development,” he remarked. Reflecting on his tenure, Haythornthwaite noted the pleasure it brought him to help guide Ocado, a company renowned for its innovative approach within the online grocery sector, over the last four years. He praised the company’s ongoing transformation under his leadership and expressed confidence that Warby’s stewardship would enable Ocado to continue its trajectory of growth.
Warby, for his part, acknowledged the opportunity with fervour and excitement. He characterised Ocado as a ‘unique and innovative business,’ and stressed the opportunities he envisions for the company as he collaborates with the leadership team and the board. “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,” he said, projecting a future where Ocado leverages its strengths to foster growth.
Despite Warby’s optimistic outlook, Ocado has faced challenges, specifically as investor sentiment becomes more cautious. Although the company has yet to achieve profitability, CEO Tim Steiner has conveyed a roadmap towards sustainable financial success by 2026. He shed light on the technological strides Ocado has made, with its advanced solutions now active with 11 out of 13 global partners. “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 explained. The strategic importance of Warby’s appointment at this juncture is evident as Ocado intensifies its efforts to scale operations and refine its technological edge across various markets.
Adam Warby’s appointment as chairman marks a pivotal chapter for Ocado, with high expectations placed on leveraging his expertise to guide the company to future success.
