– UK, Hatfield – Ocado Group plc (LSE:OCDO) announces that it has made changes to its Board composition in line with its succession plans.
Andrew Harrison, Deputy Chief Executive Officer of Dixons Carphone plc, has been appointed as an Independent Non-Executive Director of Ocado. Andrew will take up his appointment on 1 March 2016.
Lord Rose, Ocado Chairman, commented: “We are delighted that Andrew is joining Ocado, as we continue to grow the business and develop our technology solution. Andrew brings significant retail and technology experience and we will benefit from his new insight.”
Andrew Harrison commented: “I am excited to join Ocado’s Board at a time when it leads the shift of the grocery retail market towards online. I look forward to becoming part of the team.”
Resignation of Director
Separately, Ocado announces that David Grigson, Senior Independent Director and Non-Executive Director of Ocado, has informed the Board of his intention to retire from the Board at Ocado’s Annual General Meeting on 4 May 2016.
Lord Rose, Ocado Chairman, commented: “Over the last six years, David has been a tremendous asset to Ocado. David has brought experience in many areas, including in his role as Chairman of the Nomination Committee, during a period which has seen a number of changes to the Board. The Board would like to thank David for his significant contribution to Ocado and wish him the best for the future.”
Succession plans
As a result of these Board changes, a number of other Director succession decisions have been taken.
Lord Rose will succeed David Grigson as chairman of the Nomination Committee and Alex Mahon will be appointed Senior Independent Director, both with effect from the Annual General Meeting on 4 May 2016.
Andrew Harrison will be a member of the Board’s Remuneration Committee, Audit Committee and Nomination Committee with effect from 1 March 2016, while David Grigson will step down from these same Board committees on 4 May 2016, to allow for a period of continuity.
The Board has established succession plans for directors as they retire from the Board, which will be used to ensure that the membership and composition of the Board includes the appropriate balance of skills, diversity and independence. The Board used these succession plans and an external and independent executive search consultant to assist it to identify a suitable candidate for the role of Non-Executive Director.
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