Ocado Group names Adam Warby as new chairman amid sales challenges

Ocado Group has appointed Adam Warby as its new chairman, effective December. Warby, a tech expert and senior advisor at KKR, will replace Rick Haythornthwaite, who is stepping down to focus on other commitments. Warby's appointment comes as Ocado faces challenges in boosting sales and achieving profitability after a shift back to traditional supermarkets post-pandemic. The company reported a £153.9 million pre-tax loss in its half-year results. Despite these difficulties, Ocado has raised its revenue forecast following a strong third-quarter performance, with retail sales increasing by over 15% year-on-year. The company is also expanding its technology partnerships, including deals with Kroger and AEON.