Adam Warby, from KKR, is announced as Ocado’s new chairman, starting December 1, 2023.
- Warby replaces Rick Haythornthwaite, who shifts focus to chairing Natwest.
- The transition occurs sooner than planned, with Haythornthwaite stepping down earlier than his intended April departure.
- Warby brings extensive experience from Microsoft, IBM, and Heidrick & Struggles.
- Ocado aims for profitability by 2026 amid cautious investor sentiment.
Ocado has officially announced the appointment of Adam Warby, currently serving as chair at KKR, as its upcoming chairman, effective from December 1, 2023. Warby will be taking over from Rick Haythornthwaite, who has chosen to dedicate more attention to his responsibilities as chair at Natwest, a role he has been engaged with since January. This leadership change is occurring ahead of schedule as Haythornthwaite’s departure was originally slated for April 2024.
Warby, who also chairs management consultancy firm Heidrick & Struggles and has held prominent positions at technology giants Microsoft and IBM, is poised to play a pivotal role in Ocado’s ongoing development. In a statement, Haythornthwaite expressed his excitement over the new appointment, noting it as a significant moment for Ocado. He described his tenure as a rewarding experience, having contributed to the growth of a foresight-driven technology business. Warby, in response, expressed eagerness to collaborate with Ocado’s innovative leadership and skilled team to advance the firm and enhance shareholder value.
Under Adam Warby’s leadership, Ocado is optimistic about the potential for future opportunities. The company, known for its online grocery delivery service and its business-to-business ventures in robotics and automation, remains on a trajectory towards achieving profitability. CEO Tim Steiner articulated confidence in this path, highlighting an established strategy aimed at reaching profitability by 2026. Despite these optimistic projections, there is a prevailing cautious sentiment among investors regarding the company’s long-term financial outlook.
Steiner acknowledged the importance of Warby’s arrival at a critical point in Ocado’s journey. Ocado is actively rolling out its cutting-edge technology globally, now operational with 11 out of 13 partners. The company’s aim is to broaden its technological footprint into new markets and sectors. Warby’s expertise in global technology and consulting is expected to be a considerable asset, guiding Ocado through its next phase of growth and innovation.
Adam Warby’s appointment marks a new chapter for Ocado, as it navigates towards future growth and potential profitability by 2026.
