Ocado has appointed Richard Haythornthwaite as its new non-executive chair, to succeed Lord Stuart Rose next year.

Haythornwaite will succeed Lord Rose at Ocado’s AGM in May 2021, with Rose remaining in post until then to ensure a smooth handover.

Haythornwaite is currently chair of Mastercard, a role he has held since 2006 and will retire from at the end of this year.

He is also chair of AI software firm QiO Technologies and has held senior board appointments at businesses ranging from Land Securities to Network Rail and Invensys over the course of his career to date.

His appointment comes as Lord Rose plans to retire from the board of Ocado after eight years in the role. 

Ocado chief executive Tim Steiner said: “As chairman, Stuart has overseen the transformation of the business from a UK-focused FTSE 250 online grocer to a FTSE-100 global technology company.

“His guidance, counsel and strategic vision have been invaluable to the board, and to me personally, as we have grown the business in a sustainable way to the benefit of all our stakeholders. His legacy will endure for many years to come.“

”At the same time, I am delighted to welcome Rick as our new Chairman. He has substantial experience of leading and chairing a range of high-profile industrial and technology companies.

“He will play a key role helping us to navigate a post-Covid future in which the landscape of the grocery market worldwide is changing for good and, using his experience at Mastercard, to help us scale up and take advantage of the very significant global opportunities ahead.”