Ocado Group PLC Directorate Change (2613X)
August 27 2020 - 2:00AM
UK Regulatory
TIDMOCDO
RNS Number : 2613X
Ocado Group PLC
27 August 2020
DIRECTORATE CHANGES
OCADO GROUP PLC
27 August 2020
This announcement contains inside information
Ocado Group plc
Appointment of Stephen Daintith and retirement of Duncan
Tatton-Brown as Chief Financial Officer
Ocado Group plc ("Ocado" or the "Company") announces that after
eight years as Chief Financial Officer of the Group, Duncan
Tatton-Brown has decided to step down from the Ocado Group Board
due to family circumstances. He will be succeeded by Stephen
Daintith who is currently Chief Financial Officer of Rolls-Royce
Holdings plc. A start-date will be confirmed when known. Duncan
will remain in his role as CFO until 22 November 2020 and he will
then continue as a non-executive director of three Ocado
subsidiaries: Ocado Retail Limited (our joint venture with
M&S), Jones Food Company Limited and Karakuri Ltd.
During his time at Rolls-Royce Stephen has focused on managing a
significant turnaround of the business. Stephen has a deep
understanding of international business across various sectors,
having worked in the UK and internationally during his career, with
senior roles at Daily Mail and General Trust plc, Dow Jones &
Co. and News International. His experience internationally and in
engineering and manufacturing will be very valuable additions as
Ocado continues its growth as a leading technology-led global
software and robotics platform business.
Lord Rose, Chairman of Ocado, said:
"I would like to thank Duncan on behalf of the Board for his
valuable contribution to the Company and the Board.
We are delighted that Stephen will be joining the Board and the
Company as CFO. Stephen's broad experience will be an asset to the
Company as we continue to grow and develop the business at
pace."
Tim Steiner, Chief Executive Officer, said:
"Duncan joined us in 2012 when Ocado was a very different
business to what it is today. He has made a critical contribution
to our growth as a company and the successful execution of our
strategy. As importantly, he has been a highly valued colleague to
us all and we will miss him.
" Following a thorough search and selection process, I am
delighted to be welcoming Stephen to Ocado Group. Stephen has a
wealth of valuable experience and I am looking forward to working
closely with him to drive Ocado forward and take full advantage of
the opportunities that we see ahead."
Duncan Tatton-Brown said:
"I have enjoyed my time at Ocado tremendously. This is an
amazing business with huge growth opportunities ahead of it. Family
circumstances, however, mean that this is the right time for me to
step down from my role as Chief Financial Officer. Ocado now has
the financial capital required to take advantage of the global
acceleration of online channel shift. I will remain on a number of
boards connected to Ocado and so I am fortunate that I will
continue to have a front row seat in the extraordinary journey
Ocado is on."
Stephen Daintith said:
" I am delighted to be joining Ocado Group at such an exciting
time. Ocado has become established as the partner of choice for the
world's leading grocery retailers, offering a scalable and
sustainably profitable solution that provides their customers with
the best online delivery experience. I look forward to playing my
part in ensuring the continued success of the Group in the years
ahead."
Contacts:
-- Tim Steiner, Chief Executive Officer, on 01707 228 000
-- David Shriver, Director of Communications, on 01707 228 000
-- Martin Robinson, Tulchan Communications, on 020 7353 4200
Notes:
1. Stephen Daintith is currently Chief Financial Officer and
executive director of Rolls-Royce Holding plc, having joined the
company in 2017. Previously he was employed by Daily Mail &
General Trust plc as Chief Financial Officer and News International
as Chief Financial Officer. He has also held senior positions at
Dow Jones & Co., British American Tobacco, Forte and the Civil
Aviation Authority. Stephen has a BA in Economics and Accounting
from the University of Leeds and qualified as a Chartered
Accountant at Price Waterhouse (now PwC).
2. For the purposes of Listing Rule 9.6.13(1), Stephen Daintith
is currently a non-executive director of 3i Group plc. In the
previous five years Stephen has held directorships at Daily Mail
& General Trust plc, Euromoney Institutional Investor plc and
Zoopla Property Group plc, but he no longer holds these positions.
There are no further details to be disclosed relating to Stephen
under Listing Rule 9.6.13R.
3. The remuneration details relating to Duncan Tatton-Brown's
departure, in compliance with section 430(2B) of the Companies Act
2006, and the key elements of Stephen Daintith's remuneration will
be made available in due course on the Company's website at
www.ocadogroup.com .
The person responsible for arranging the release of this
announcement:
Neill Abrams
Group General Counsel and Company Secretary
Ocado Group plc
Buildings One & Two Trident Place
Mosquito Way
Hatfield
Hertfordshire
AL10 9UL
Tel: +44 (0)1707 228 000
Email: company.secretary@ocado.com
Ocado Group plc LEI: 213800LO8F61YB8MBC74
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END
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