Ocado co-founder Jason Gissing offloads 3m shares worth £15m February 6, 2014 OCADO’S outgoing commercial director and co-founder Jason Gissing sold shares worth £15m on the day that the online grocer announced full-year losses of £12.5m. Gissing, who announced on Tuesday that he would be leaving the company, sold just over three million shares on the same day at 498.75p each, reducing his stake by 0.52 per [...]
Ocado founder Gissing to leave as sales increase February 4, 2014 OCADO’s Jason Gissing is to step down, leaving chief executive Tim Steiner as the only co-founder still at the grocer, which posted sales growth of 15 per cent yesterday. Despite growing revenues, the firm suffered a pre-tax loss of £12.5m for the year to 1 December, compared with £600,000 the previous year. The group said [...]
Ocado eyes locations for third warehouse January 19, 2014 ONLINE grocer Ocado is understood to be searching for a third giant warehouse to increase its capacity for grocery deliveries. Morrisons bought the rights to half of its capacity at its Dordon fulfilment centre as part of the £216m tie-up last year. Ocado has suggested since that as a result it may have to look [...]