Tim Steiner, Ocado’s co‑founder and CEO, is slated to step down in roughly 18 months, entering a founder role by December 2027. The move follows a boardroom plot led by chair Adam Warby to remove the founder over a falling share price, a decision that split investors and sparked calls for Warby to quit instead.ույն

The company’s warehouse‑tech arm reported a £25m revenue drop in the six months to April, excluding a £354m compensation payout related to the closure of several North American sites. Ocado is courting new partners for its grocery‑warehouse services across North America, Europe, and Asia. Meanwhile, Ocado Retail, the Marks & Spencer partnership, saw revenue rise 15 % to £1.8bn and market share climb to 13.7 %. Active customers increased by 10 %, with the average basket at £126.55, up 2 % YoY. The retail arm earned a £12m pre‑tax profit, reversing a £17m loss the previous year.

Despite retail gains, the tech unit remains a drag on growth, analysts say. Ocado shares fell 7 % to 165p on Thursday, widening a five‑year decline of 90 %.