Canadian national supermarket chain operating under multiple banners
Ocado is facing questions over Tim Steiner’s pay and potential succession amid a slide in its share price to below its 2010 flotation level. The board is considering replacements as shareholders voice concerns over pay proportionality and performance.
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.
Iga Swiatek has won the Canadian Open, her first title in 11 months, amid intense scrutiny at home. She has spoken about anger at critics and says she will keep growing, while praising her new coach Francisco Roig. The victory returns her to the top five.