Ocado's chairman looked for a new boss without telling the current one

Ocado's chairman Adam Warby started searching for a new chief executive without telling co-founder Tim Steiner, who still runs the company, The Guardian reported on July 16, 2026. Steiner said he wouldn't block a replacement but wouldn't say if he and Warby could still work together. The fallout came as shares hit a ten-year low and profits plunged from £607m to £17m.