# Ocado chief says he won’t be a ‘puppet master’ amid apparent succession row

- URL: https://talkfuse.com/story/ocado-chief-says-he-wont-be-a-puppet-master-amid-apparent-succession-row/
- Published: 2026-07-16T08:54:50+00:00
- Updated: 2026-07-16T09:12:52+00:00
- Original publisher: The Guardian (publisher lean: Left)
- Original article: https://www.theguardian.com/business/2026/jul/16/ocado-chief-puppet-master-succession-tim-steiner
- Topics: Business, Markets, Software, Technology

## Key points

- Ocado shares fall 15% amid succession row and profit slump
- CEO Tim Steiner denies wanting to control the company from behind
- Pre-tax profits dropped to £17m from £607m year-on-year

## Summary

Ocado's co-founder and chief executive, Tim Steiner, has denied any intention of acting as a "puppet master" behind the scenes, following an apparent boardroom dispute over succession plans at the online grocery technology firm. His comments came as shares in the company fell nearly 15% to their lowest level in more than a decade, after Ocado reported a sharp fall in pre-tax profits, adding pressure to a leadership transition already clouded by reports that the chair had begun seeking a new chief executive without consulting Steiner.

Ocado said last week that Steiner would step down as chief executive in 2028 but remain for a further year in a "founder role" offering strategic guidance until 2029, and he indicated on Thursday he would stay longer if his successors wished. Pre-tax profits for the six months to 31 May came in at £17m, down from £607m a year earlier, though Steiner insisted the business remained "on a good path", citing expected positive cashflow by November, new US client signings, forthcoming robotic distribution centres in South Korea, Japan and Arizona, and 15% growth to £1.76bn in sales at its Marks & Spencer joint venture. He declined to comment on his relationship with chair Adam Warby, who took up the role in 2024.

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Summarised by TalkFuse (https://talkfuse.com/). Quote the original publisher for the reporting and link this page for the summary and discussion.