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UK supermarket Ocado says Haythornthwaite to step down as chair next year

Published 04/04/2024, 07:53
Updated 04/04/2024, 08:05
© Reuters. An Ocado grocery delivery van is driven along a street in London, Britain, March 25, 2023. REUTERS/Toby Melville
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(Reuters) -British online supermarket Ocado (LON:OCDO) said on Thursday Chairman Rick Haythornthwaite will step down next year due to his "increasing commitment" at banking group NatWest (LON:NWG).

"Since the announcement of my appointment as group chair of NatWest I have given extensive thought to my workload ... it has become evident that pressure on my time is likely to increase over the medium term," Haythornthwaite said in a statement.

© Reuters. An Ocado grocery delivery van is driven along a street in London, Britain, March 25, 2023. REUTERS/Toby Melville

Haythornthwaite, who joined as Ocado chair in 2021 and will not stand for re-election at the firm's annual general meeting in April 2025, said he's made public his intention to step down a year in advance to give Ocado enough time to find his successor.

The 67-year-old British national will take on his new role at NatWest this month, as the British bank seeks to contain the fallout from a row with former Brexit party leader Nigel Farage.

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