Ocado Group PLC Directorate Change (2988Z)
December 14 2017 - 1:01AM
UK Regulatory
TIDMOCDO
RNS Number : 2988Z
Ocado Group PLC
14 December 2017
DIRECTORATE CHANGE
OCADO GROUP PLC
14 December 2017
This announcement contains inside information
Ocado Group plc
Retirement of Non-Executive Director
Ocado Group plc ("Ocado") announces that Alex Mahon,
Non-Executive Director and Senior Independent Director, has
informed the Board of her intention to retire from the Board with
immediate effect.
Alex Mahon commented:
"I have served on the Ocado Board since June 2012, I have
enjoyed my time hugely and I am sad to depart from such a brilliant
group. Ocado is a remarkable company; a global technology innovator
and disrupter, filled with smart and committed teams and much loved
by our loyal British customers. However, my recent appointment as
Chief Executive Officer of Channel 4 means that I no longer have
the capacity to commit to Ocado. I believe that this is the right
time to retire from the Board of Ocado but know, in doing so, that
I leave the Board in excellent hands, and I will remain an utterly
dedicated and frequent Ocado shopper!"
Lord Rose, Ocado Chairman, commented:
"On behalf of the Board I would like to thank Alex for her
service over the last five years. We will be sorry to see her
retire from the Board but of course understand her desire to reduce
her commitments so that she can focus on her new executive role.
She has been a wonderful colleague to work with and we wish her the
very best for the future. We will begin a search for Alex's
replacement immediately."
-ENDS-
Person responsible for arranging the release of this
announcement:
Neill Abrams
Group General Counsel & Company Secretary
Ocado Group plc
Buildings One & Two Trident Place
Mosquito Way
Hatfield
Hertfordshire
AL10 9UL
Fax: +44 (0)1707 227997
email: company.secretary@ocado.com
Ocado Group plc LEI: 213800LO8F61YB8MBC74
Notes:
1. The Board determined in accordance with the Directors'
Remuneration Policy, that the following arrangements should apply
in relation to Alex Mahon's remuneration on retirement: (i) All
outstanding fees are to be paid up to the date of retirement, 13
December 2017, in accordance with the terms of Alex Mahon's letter
of appointment. (ii) No payments are expected after the date of
retirement. (iii) No payment for loss of office or other
remuneration payment was made or is expected to be made. (iv) Alex
Mahon does not participate in a Group share scheme. For the
purposes of section 430(2B) of the Companies Act 2006 this
information in relation to Alex Mahon's remuneration arrangements
on retirement is published on Ocado's corporate website at
www.ocadogroup.com.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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