LONDON (dpa-AFX) - Ocado Group PLC (OCDO.L), a British online grocery retailer, on Monday clarified that Tim Steiner will continue to serve as Chief Executive Officer through the start of the 2028 financial year. In addition, the company noted that Steiner will remain active in the company through 2029.
The board and Steiner have been engaged in succession planning to find a new CEO to succeed Steiner. The Group expects this process to conclude around the start of the 2028 financial year. During fiscal 2027 and up to the completion of the succession process, Steiner will continue to lead the company as CEO.
Following the appointment of a successor, the current CEO will transition into a founder role.
The company's clarification follows earlier media speculation over the succession plan for CEO Steiner.
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