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Ocado Group PLC

Ocado Group plc, together with its subsidiaries, operates as an online grocery retailer in the United Kingdom and internationally. The company operates through Technology Solutions and Logistics segments. It provides end-to-end online retail and automated storage and retrieval solutions for general merchandise to corporate customers; and Ocado Intelligent Automation that provides automation solutions to sectors outside of grocery retail. The company also provides third-party logistics services through Ocado storage and retrieval system. Ocado Group plc was founded in 2000 and is headquartered in Hatfield, the United Kingdom.

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News & notes moving OCDO.LSE
OCDO.LSE

Kroger names Nate Faust chief e-commerce officer

Kroger has appointed former Walmart and Jet.com executive Nate Faust as its new chief e-commerce officer, effective September 1. Faust, who co-founded Jet.com and later led U.S. e-commerce supply chain at Walmart, brings more than 20 years of experience building and scaling online retail businesses. CEO Greg Foran, who previously worked with Faust at Walmart, said Faust built businesses that redefined customer expectations around speed, value, and order accuracy. Industry observers expect Faust to focus on replacing third-party delivery services with Kroger's own capabilities, improving the Ocado partnership, and using retail media revenue to subsidize fulfillment.
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FreightWaves·14dRead more ▾
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Ocado abandons £190m payment fight with M&S

Ocado has dropped its pursuit of a £190 million payment from Marks & Spencer tied to their online grocery joint venture. The final instalment of £190.7 million was contingent on Ocado Retail meeting undisclosed performance targets in the year to November 2023, which it failed to do. Ocado had previously threatened legal action, with chief executive Tim Steiner arguing that factors such as the pandemic should have been considered. The two parties have now decided to draw a line under the dispute, resulting in no payment being made. However, M&S has reportedly refused to commit to new warehouses or increased volumes unless Ocado agrees to improved commercial terms.
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The Telegraph·29dRead more ▾
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Ocado confirms it is regularly engaging with potential CEO successors

Ocado Group confirmed it is regularly engaging with potential candidates to succeed chief executive and co-founder Tim Steiner. The company told investors that the CEO and board continually engage in long-term succession planning, following reports that Niklas Heuveldop, chief executive of Ericsson subsidiary Vonage, has been considered as a potential new boss. Steiner, a former Goldman Sachs banker, co-founded Ocado in 2000. The confirmation comes amid a wider restructure that includes cutting around 5% of its global workforce, mainly at its Hertfordshire headquarters, and after its share price fell to around £1.80 from a 2020 peak of about £29.
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Yahoo Finance UK·66dRead more ▾
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