The chief executive of Ocado’s robotics and software division is retiring after six years leading the profitable business unit.
Executive director and CEO of Ocado Solutions, which accounts for around 90 per cent of group revenues this year, Luke Jensen will retire in September after five years on the board.
The Ocado Solutions business provides technology to streamline their own delivery services and has become known for its new robotics-driven warehouses.
Ocado shares struggled for direction in response to the news, falling by more than 6 per cent in early trading before clawing back to a more than 5 per gain by midday.
Ocado today announced that Luke Jensen, executive director and CEO of Ocado Solutions, was retiring on 30 September 2023
The Hatfield-based company announced that John Martin, current non-executive director, will be appointed as Jensen’s replacement as CEO on 1 September, ‘allowing a period of time’ before Jensen’s retirement at the end of the month.
Jensen has been a key figure in pushing the company to embrace technology, such as the launch of Ocado’s first robotic warehouse in Asia.
The warehouse uses AI to select and bag items for delivery, ‘using as few bags as possible and no damages to products’.
Jenson said in a statement: ‘I am proud and honoured to have played a part in the transformation of Ocado from a UK retail company to a global leader in technology solutions.
‘With the roll-out of its latest innovations underway, Ocado is better placed than ever to support its partners to win in their markets, and to forge new partnerships with leading grocers across the globe.’
Tim Steiner, chief executive officer of Ocado, said: ‘Over the last six years, Luke has played a key role in our transformation into a global technology solutions business.
‘He leaves our Solutions business in a strong position to drive future growth, having recently established a global regional structure, with the appointments of regional presidents and the creation of a global Partner Success organisation.
‘We wish him well and thank him for his contribution to Ocado. Luke will be supporting the transition over the coming months.’
Earlier this week, Ocado shares soared to their highest level since January after the online grocer reached a settlement with AutoStore over robot patent litigation claims.
The Norwegian robotics firm will pay £200million to Ocado in 24 monthly instalments, starting this month, putting an end to a three-year legal battle, the group told investors on Monday.
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