Ocado names Mastercard chairman as Stuart Rose replacement

Ocado Group has appointed Rick Haythornthwaite as a new independent non-executive chairman to replace Stuart Rose next year.

Haythornthwaite is the current chairman of Mastercard, a position he will retire from at the end of 2020.

In a statement on Friday, Ocado said Haythornthwaite is also the chairman and co-founder of QiO Technologies, an advanced analytics and AI software company, and previously served as chief executive of listed companies Invensys and Blue Circle Industries.

READ MORE: Ocado says it expects suppliers to mitigate Brexit price rises in “provocative” letter

After eight years with the retailer, industry veteran Rose will retire from his position on the board at Ocado’s annual general meeting in May 2021.

“I am delighted to welcome Rick as our new chairman,” Ocado chief executive Tim Steiner said in the statement.

“He will play a key role helping us to navigate a post-COVID future in which the landscape of the grocery market worldwide is changing for good and, using his experience at Mastercard, to help us scale up and take advantage of the very significant global opportunities ahead.”

“It has been a privilege to be the Chairman of Ocado Group over the last eight years and to have helped steer the business to where it is today, a world-leading online grocer and solutions provider driving unprecedented change in the industry,” Rose said in light of the news.

“The extraordinary creativity, problem-solving, resilience, and adaptability shown by the people of Ocado Group has been in evidence particularly through the COVID crisis and I know that these qualities will serve the business well in the years to come,” Rose added.

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