Ocado Group PLC has announced changes to its Board of Directors. Mark Richardson and Neill Abrams will step down as Executive Directors, with Mark continuing as CEO of the Ocado Intelligent Automation business, focusing on automated fulfillment technology in sectors outside of grocery retail. Neill will remain in his position as Group General Counsel and Company Secretary, also retaining responsibility for real estate and sustainability groups. The Board's composition is being refreshed to align with a more conventional listed company board structure, with two Executive Directors and eight Non-Executive Directors, exceeding its Board Diversity objective for female representation with 50% female Directors.

Rick Haythornthwaite, Chairman of Ocado, expressed gratitude for the leadership and contribution of Mark and Neill, while Tim Steiner, Chief Executive Officer, highlighted the value of their expertise and knowledge to the company. The changes aim to allow both individuals to focus on the growth and resilience of the business. Mark's experience is deemed invaluable in leading the Ocado Intelligent Automation business, while Neill's extensive legal expertise and knowledge have been crucial in building the FTSE 100 business from scratch.

The announcement also mentioned that there are no other details to disclose under paragraph 9.6.13 of the Listing Rules, and more information related to Mark and Neill's remuneration for 2022/23 will be detailed in the Directors' Remuneration Report in the 2022/23 Annual Report and Accounts. The remuneration disclosures required pursuant to section 430(2B) of the Companies Act 2006 will be made available in due course at www.ocadogroup.com.

For further details, the contacts provided are Tim Steiner, Chief Executive Officer, David Shriver, Chief Reputation Officer, and Martin Robinson, Teneo. The responsible person for arranging the release of this announcement is Robert Cooper, Chief Compliance Officer at Ocado Group PLC.