Tim_Steiner_(businessman)

Tim Steiner (businessman)

Tim Steiner (businessman)

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Tim Steiner OBE (born December 1969) is the co-founder and chief executive (CEO) of Ocado, the FTSE 100 online grocery and technology business. As of May 2023, Ocado had a market capitalisation of nearly £3 billion.[1] The 2020 Sunday Times Rich List estimates that Steiner is worth £403 million.[2]

Quick Facts Born, Nationality ...

Early life

Tim Steiner was born in December 1969.[3] He was educated at Haberdashers' Boys’ School in Elstree, Hertfordshire. He read Economics at the University of Manchester.[4][5]

Career

In 1992, Steiner joined Goldman Sachs as a bond trader. He worked for them for eight years in London, New York and Hong Kong before leaving to co-found Ocado in 2000 with Jonathan Faiman and Jason Gissing.[5] Faiman left the business before it floated on the London Stock Exchange in 2010 and Gissing left in 2014. Steiner remains Ocado's chief executive.[citation needed]

In February 2020, it was announced that Steiner received a pay package of £58.7 million for the year to 1 December 2019.[6]

Following the lock down due to the outbreak of COVID-19 in the UK in March 2020, Ocado recorded 40 percent revenue growth in April and May compared to the same period last year.[7]

Steiner donated £50,000 to the Conservative Party during the 2019 United Kingdom general election.[8]

Personal life

Steiner was brought up in North London. He has four children with ex-wife Belinda.[9] The couple were divorced in 2016.[10]

References

  1. [1]
    "Ocado Group PLC OCDO stock | London Stock Exchange". www.londonstockexchange.com. Retrieved 23 May 2023.
  2. [2]
    Times, The Sunday. "Rich List 2020: profiles 304-399=, featuring Simon Cowell and Sir Elton John". The Times. ISSN 0140-0460. Retrieved 3 June 2020.
  3. [3]
    "Timothy STEINER – Personal Appointments (free information from Companies House)". Companies House, Government of the United Kingdom. Retrieved 27 January 2018.
  4. [4]
    O’Doherty, John (20 July 2010). "Profile: Ocado founders". Financial Times. Retrieved 27 January 2018.
  5. [5]
    Turner, Camilla (19 March 2016). "Ocado boss is dating Polish model twenty years his junior after filing for divorce from wife". The Daily Telegraph. Retrieved 27 January 2018.
  6. [6]
    Editor, Ashley Armstrong, Retail. "Ocado chief Tim Steiner paid £59m despite record loss". The Times. ISSN 0140-0460. Retrieved 12 February 2020. {{cite news}}: |last= has generic name (help)CS1 maint: multiple names: authors list (link)
  7. [7]
    Benstead, Sam (12 May 2020). "How Ocado, Britain's 'best tech stock', is growing faster than Amazon". The Telegraph. ISSN 0307-1235. Retrieved 3 June 2020.
  8. [8]
    "Search - The Electoral Commission". search.electoralcommission.org.uk. Retrieved 20 July 2021.
  9. [9]
    "Highgate Ocado boss faces ex wife in one of Britain's biggest ever divorce battles". hamhigh.co.uk. Retrieved 27 January 2018.
  10. [10]
    "Judge rules to keep Ocado boss' multi-million pound divorce private". London Evening Standard. 26 July 2016. Retrieved 27 January 2018.
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