Ocado Group PLC has announced a forthcoming change in its board of directors. Rick Haythornthwaite, who was recently appointed as the Group Chair of NatWest Group PLC, will not seek re-election to the Ocado Board at its AGM in April 2025. Haythornthwaite cited his increasing commitment to NatWest as the reason for his decision, stating that the pressure on his time is likely to increase over the medium term. He expressed his intention to step down a year from now to ensure a measured Chair succession.

In response to Haythornthwaite's decision, Tim Steiner, Chief Executive Officer and Founder of Ocado, expressed disappointment at losing him but acknowledged the reasons for his departure. Steiner praised Haythornthwaite for his contributions to strengthening corporate governance, providing wise advice to the executive team, and assisting in the business's growth over the last three years. Haythornthwaite will continue as Chair for the next twelve months, allowing ample time for the company to find a suitable replacement and ensure an orderly transition.

The company's Chief Financial Officer, Stephen Daintith, and David Shriver, who can be contacted for investor relations, are available for further details. The announcement was arranged by Robert Cooper, the Chief Compliance Officer of Ocado Group PLC. The contact information for the company is provided for any inquiries.

This change in the board of directors at Ocado Group PLC reflects the company's commitment to ensuring a smooth transition and maintaining strong corporate governance.