Co-founder and chief executive Tim Steiner will remain in post until December next year as it hunts for his successor.

Ocado co-founder Tim Steiner is to transition from CEO by early 2028 in what is intended as an orderly change designed to refresh U.S. growth while maintaining stability.

Ocado chief executive Tim Steiner will quit the business he founded as part of a shock replacement plan masterminded by chairman Adam Warby.

Co-founder and chief executive Tim Steiner will remain in post until December next year as it hunts for his successor.