Ocado's embattled co-founder, Tim Steiner, is reportedly facing the axe as the struggling online grocery giant seeks to turn its fortunes around. Despite his impressive £100m payday since the company's 2010 IPO, Ocado's share price has plummeted, leaving investors questioning the leadership's ability to steer the company back on track. The news comes as the company's board is said to be in talks with at least one potential replacement for Steiner, sparking speculation about the future of the British tech firm. As the retail landscape continues to shift, Ocado's woes serve as a stark reminder of the challenges facing even the most innovative players in the market.
Reports claim replacement being lined up for co-founder amid concern over high pay and company’s struggling share priceThe boss of Ocado has collected nearly £100m since the online grocery company floated on the stock market in 2010, despite its share price now languishing below its flotation level, analysis has shown.Tim Steiner, a former Goldman Sachs trader who co-founded the British technology company in 2000, is thought to be in discussions over his future after it emerged Ocado had approached at least one potential replacement. Continue reading...
