Ocado appoints CEO to head up new technology division to focus on robotics handling July 28, 2022 Online grocer and tech firm has appointed its current chief operating officer to a new role as top boss of a new Ocado division. Mark Richardson will step into the newly-created role of CEO as a new business which will extend Ocado’s “product offering into new market sectors alongside grocery.” The upcoming launch of products [...]
FTSE 100 close: London markets move higher after boost from US inflation figures February 29, 2024 London markets moved higher on a busy morning of corporate results, with shares in Ocado and Haleon both rising significantly.
Ocado raises £575m as it looks to widen online grocery market share June 21, 2022 Online retailer Ocado has raised £575m in a share placing, rallying extra funds as demand dries up. The London-listed firm announced the placing after the stock market closed yesterday, revealing just hours later that it had met its quota. The placing auctioned off 72.3m shares at 795p — a nine per cent discount to yesterday’s [...]
Ocado Retail boss to step down as online grocer begins hunt for new CEO July 19, 2022 Ocado Retail has said its CEO Melanie Smith will step down next month, after three years at the helm of the business. Former deputy CEO of the company, Lawrence Hene, will take over on an interim basis while a hunt for a permanent replacement takes place. The supermarket has struggled with waning average basket spending [...]
Wayve: Nvidia and Microsoft back British self-driving startup in boost for UK’s AI goals May 7, 2024 Wayve has conducted trials on UK public roads since 2018 and has already partnered with delivery fleets from Asda and Ocado.
Ocado losses swell as shoppers add less items to their baskets amid cost of living crunch July 21, 2022 Ocado has posted swelling losses after shoppers have added less items to their shopping baskets following the cost of living crunch and easing of lockdown restrictions. Losses widened to £211m, from £27.9m the year prior, for the six month period to 29 May, as customers tightened their purse strings as inflation surged past new 40-year [...]
Ocado pays out £20k following fire safety resignation April 17, 2022 Ocado is set to fork out £20,000 in damages after a former employee raised alarms about warehouse fire safety issues. The company is facing allegations that the worker was forced out of his job after he said the cardboard materials and pallets blocked fire exits. The Telegraph reported that court documents said a “witch hunt” [...]
Online grocer Ocado inks deal with French retail group February 17, 2022 Online grocery firm Ocado and French Groupe Casino have inked a formal partnership in France. The companies said they had signed a memorandum of understanding to create a joint venture to provide logistics services for grocery retailers in France. The deal also means Ocado will integrate Octopia’s marketplace platform into OSP. Tim Steiner, CEO of [...]
Shareholder rebellion to hit Ocado scheme over concerns of £100m windfall for boss May 2, 2022 Ocado investors are reportedly planning to turn their nose up at an extension of a share reward scheme which would see the retailer’s boss handed £100m. Two advisory groups, the Institutional Shareholder Service and Glass Lewis, have recommended investors to reject the proposal to lengthen the so-called “valuation creation plan” at its annual general meeting [...]
Middle-class favourite Ocado leads FTSE 100 higher February 2, 2022 London markets climbed this morning as middle-class favourite and online supermarket Ocado leads the FTSE 100 higher. The capital’s premier FTSE 100 index added 0.47 per cent to reach 7,571.48 points, while the domestically-focused FTSE 250 index, which is more aligned with the health of the UK economy, gained 0.72 per cent to hit 22,327.31 [...]