By Kyle Morris


Ocado Group PLC said Thursday that it has appointed Chief Operating Officer Mark Richardson as chief executive of its business extending the product offering into new market sectors.

The online grocer and retail-technology specialist said Mr. Richardson will lead the new business segment that combines Re:Imagined Ocado Smart Platform products and automated storage and retrieval systems.

The new venture will be self-financing and won't require additional capital beyond previously guided, it said.

Shares in Ocado at 0952 GMT were down 2.60 pence, or 0.3%, at 766.20 pence.


Write to Kyle Morris at kyle.morris@dowjones.com


(END) Dow Jones Newswires

07-28-22 0617ET