Proactive Investors - Ocado Group PLC (LON:OCDO) shares crumpled 10% to 863.8p in early trading after the head of its tech arm stepped down.
Luke Jensen, chief executive of Ocado Solutions, will leave the board and his executive director role from the end of September, to focus on external non-executive director positions.
He has been CEO of Ocado Solutions, the division that provides technology to overseas supermarket chains and that makes up the bulk of Ocado's market valuation, since 2017, when the first international partnership was signed.
Replacing him will be John Martin, currently a non-executive director of the company, from the start of September, which is expected to allow a "thorough handover" from Jensen.
Martin will step down from the board at this point.
Ocado Group CEO Tim Steiner hailed Jensen's "key role in our transformation into a global technology solutions business".
But he said the Solutions business is "in a strong position to drive future growth".