Ocado Group appoints Michael Sherman as an Independent Non-Executive Director

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Ocado Group plc (LON:OCDO) has announced that Michael Sherman, Chief Strategy and Transformation Officer of BT Group plc, has been appointed as an Independent Non-Executive Director with effect from 5 October 2020. He will also be a member of the Nomination Committee. Michael brings a wealth of experience in growth strategy and improving operational efficiency in the technology and telecommunications industry.

Notes:

1.   Michael Sherman is currently Chief Strategy and Transformation Officer of BT Group plc, having joined the company in 2018. Previously he led the Technology, Media and Telecommunications practice, as Partner and Managing Director, at Boston Consulting Group, where he worked for 11 years. Michael has a BS in Computer Science and Electrical Engineering from Duke University and an MBA from Duke University’s Fuqua School of Business.

2.   For the purposes of Listing Rule 9.6.13(1), Michael Sherman does not currently hold, and has not held in the previous five years, any publicly quoted directorships. There are no further details to be disclosed relating to Michael under Listing Rule 9.6.13R.

3.   As Non-Executive Director Michael Sherman will be paid an annual fee of £68,000 per annum, in line with the Directors’ Remuneration Policy.

Lord Rose, Chairman of Ocado Group, said:

“I am delighted to welcome Michael to our Board. Michael has extensive experience and skills in the technology sector and I am confident his insight and expertise will be an invaluable asset to the Board and our continued growth and development as a technology-led software and robotics platform business. We are very much looking forward to working with him.”

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