British online supermarket and technology group Ocado said on Thursday Duncan Tatton-Brown would step down as chief financial officer after eight ...
REUTERS: British online supermarket and technology group Ocado said on Thursday Duncan Tatton-Brown would step down as chief financial officer after eight years in the role and be replaced by Rolls-Royce finance chief Stephen Daintith.
The company said Tatton-Brown, who is stepping down due to family circumstances, would continue as CFO until Nov. 22 after which he would be a non-executive director of three Ocado units."Ocado now has the financial capital required to take advantage of the global acceleration of online channel shift," said Tatton-Brown, whose tenure with Ocado has seen the company's share price shoot up more than 4000per cent.
Daintith's appointment comes at a time when Ocado has predicted it and other online players will double their share of the UK grocery market within a few years, building on huge gains during coronavirus lockdowns. Before joining Rolls-Royce in 2017, Daintith served as the CFO of Daily Mail and General Trust and News International. He also held senior positions at Dow Jones, British American Tobacco , Forte and the Civil Aviation Authority.
He will remain in his current role at Rolls-Royce to support an orderly transition as he helps oversee 1 billion pounds of cost cuts this year, the aerospace engineer said.
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