Ocado eyes former Microsoft exec for chairman role

Ocado Group reportedly has plans to recruit former Microsoft executive, Adam Warby, as its next chairman to replace Rick Haythornthwaite, Sky News has reported.  

The news comes after Haythornthwaite accepted a new position as chairman of NatWest Group. He also chairs the AA, which is owned by private equity firms Stonepeak, Towerbrook and Warburg Pincus.

Meanwhile, Warby currently chairs the board of headhunting firm Heidrick & Struggles and serves as a senior advisor to US-based investment firm KKR.

Prior to these roles, Warby chaired Swiss-based enterprise software provider SoftwareONE, and held a range of positions at IBM and Microsoft early in his career. 

It is understood that Warby’s appointment could be announced as early as next month.  

Warby’s potential appointment would come at a critical time for the London-listed online grocer, having seen its stock shares fall by a quarter last year. Ocado’s market capitalisation also currently stands at just over £3bn. 

Still run by one of the company’s co-founders, Tim Steiner, Ocado Group also owns a 50% share in Ocado Retail alongside joint venture partner Marks & Spencer.

The joint venture has experienced a slew of problems, leaving the companies in dispute about a final payment that M&S was scheduled to make to Ocado.

Ocado Group has been approached for comment.