Ocado’s chief financial officer Duncan Tatton-Brown is set to step down from the company after nearly a decade due to “family circumstances”.
Tatton-Brown, who joined the online grocery giant in 2012, is set to depart from Ocado on November 22 when he will be replaced by Rolls-Royce’s current chief financial officer Stephen Daintith.
He will “continue to have a front row seat in the extraordinary journey Ocado is on” and maintain his role as non-executive director for numerous Ocado subsidiaries, including its upcoming joint venture with M&S, its vertical farming arm Jones Food Company and Karakuri.
Daintith, who has previously held positions at the Daily Mail and Dow Jones, has been selected “following a thorough search and selection process” due to his broad experience internationally and in engineering.
This points firmly to Ocado’s ambitions to move away from selling grocery items itself and focus on selling its high-tech automated robotic systems to third party retailers moving forward.
“I have enjoyed my time at Ocado tremendously,” Tatton-Brown said.
“This is an amazing business with huge growth opportunities ahead of it. Family circumstances, however, mean that this is the right time for me to step down from my role as Chief Financial Officer. Ocado now has the financial capital required to take advantage of the global acceleration of online channel shift.”
Daintith added: “I am delighted to be joining Ocado Group at such an exciting time.
“Ocado has become established as the partner of choice for the world’s leading grocery retailers, offering a scalable and sustainably profitable solution that provides their customers with the best online delivery experience. I look forward to playing my part in ensuring the continued success of the Group in the years ahead.”