A former Microsoft executive has been appointed as the next chairman of Ocado Group, the online grocery technology provider.
Adam Warby, who chairs executive search firm Heidrick & Struggles and serves as a senior adviser to KKR, the powerhouse US-based investment firm, has emerged as a leading candidate to succeed Rick Haythornthwaite in the role, Sky News has learned.
An announcement confirming Mr. Warby’s appointment could come as early as next month, city sources said Monday.
Mr. Warby, who also headed Switzerland-based SoftwareONE, a provider of enterprise software, held a series of roles at IBM and Microsoft earlier in his career.
Most recently, he spent a decade as CEO of Avanade, a digital and cloud services provider that was a joint venture between Accenture and Microsoft.
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He continues to serve as CEO Emeritus of Avanade.
If confirmed, he will take over the leadership of Ocado Group at a critical time for the London-listed company.
After rising in value during the pandemic, it has seen its shares go through a difficult period, and now has a market capitalization of just over £3bn.
The stock has fallen by a quarter over the past year.
Ocado counts a number of major international grocery retailers among the clients to whom it provides e-commerce, fulfillment and logistics services.
The Ocado Group is still run by one of the company’s founders, Tim Steiner, and also owns a 50% stake in Ocado Retail alongside joint venture partner Marks & Spencer.
The joint venture ran into a slew of issues, leaving the companies in dispute over the final payment M&S was due to make to Ocado.
Steiner said in July that he had no interest in selling the company’s stake in Ocado Retail.
Under the terms of the deal they struck in 2019, the two sides had the option to sell their stakes after their fifth anniversary.
“While there is still a lot to do, we look forward to making continued progress through the rest of the fiscal year and beyond, as we build a profitable and cash-generating technology business,” Steiner said in July.
A successor to Mr Haythornthwaite has been appointed following his appointment as Chairman of NatWest Group.
He also chairs AA, which is owned by private equity firms Stonepeak, Towerbrook and Warburg Pincus.
An Ocado Group spokesman declined to comment.