UK online grocer and tech group
Ocado has announced a planned leadership transition with co-founder and CEO Tim Steiner set to step down in 2028. A successor will be identified by the start of the 2028 financial year, with Steiner remaining as a founder adviser through 2029. The move follows pressure from shareholders after a slump in Ocado’s share price and ongoing restructuring.
Ocado has sealed a deal to build a large customer fulfilment centre for a fast-growing European national retailer. The automated site, due to go live in 2028, features Ocado’s robotics and new technology. The agreement follows a recent downturn in Ocado’s stock amid broader market weakness and signals rising demand for its automation solutions.
Sainsbury’s has agreed to sell Argos and the Habitat brand to Swift Partners, with completion expected in February 2027 and full separation by 2029. The deal transfers 1,400 Argos staff and related assets, while Argos will continue operating under the new owners. The sale aligns with Sainsbury’s focus on its core grocery business.