LONDON Jan 21 Broadcasting industry executive
Michael Grade is to step down as chairman of British online
grocer Ocado, the Financial Times reported on its
website on Monday.
Grade, who has been chairman of the British Broadcasting
Corp and executive chairman of ITV, joined the board of
Ocado in 2006. His tenure as non-executive chairman included
bringing the company to the market in July 2010.
He will step down at the retailer's AGM in May, the FT said,
citing people familiar with the situation.
Shares in the group closed up 9.25 percent on Monday at a
six-month high of 95 pence, although still well down on its
listing price of 180 pence.
A spokeswoman for Ocado declined to comment on the report.