Ocado Retail CEO Melanie Smith to step down

Ocado Retail, the 50:50 joint venture between Ocado and Marks & Spencer, said on Tuesday that Melanie Smith will be stepping down as chief executive at the end of August after three years.

The company said Smith had been instrumental in the formation of the joint venture, since it was established in August 2019, "bringing together the strength of M&S's brand and its leading food quality, with Ocado's proprietary technology and award-winning customer service".

She will be handing over to Lawrence Hene, on an interim basis, who previously was deputy CEO at Ocado Retail, and since the creation of JV has remained on its board as a non-executive director. A permanent successor will be appointed in due course.

Ocado Retail chairman Tim Steiner said: "The last two years have been extremely challenging with a pandemic to contend with affecting the grocery market in ways that we could never have predicted. Mel has steered this business through with incredible energy and I would like to thank her for all she has done.

"There is no question that Mel leaves the business well prepared for faster growth in the years to come. We wish her well in her future endeavours."