Online grocer says Tim Steiner will remain as CEO until December 2027 before taking on ‘founder role’ for a further year

Ocado’s co-founder and chief executive, Tim Steiner, will stand down in 2028 after weeks of speculation over the online grocer’s leadership.

Steiner, who co-founded Ocado in 2000 with two other former Goldman Sachs bankers, will continue to serve as chief executive until the start of the 2028 financial year, which begins in December 2027, by which point the company hopes to have a successor in place.