Tim Steiner’s in the news as Ocado shares tank after Kroger closes 3 fulfilment centres. He’s co-founder and CEO of the UK online grocery giant.
Ocado's stock value fell sharply after Kroger announced the closure of three US warehouses using its technology. Kroger plans to shift to a hybrid fulfillment model, impacting Ocado's growth prospects in the US market. The company receives compensation but faces ongoing challenges in scaling its automated warehouses.