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Ocado's co-founder Gissing sells shares worth £15 million
February 6, 2014 / 10:47 AM / 4 years ago

Ocado's co-founder Gissing sells shares worth £15 million

An Ocado delivery truck drives through Fingest in southern England October 8, 2013. REUTERS/Suzanne Plunkett

LONDON (Reuters) - Jason Gissing, the co-founder of British online grocer Ocado (OCDO.L), which said this week he would quit in May, has sold one sixth of his shareholding in the firm for over 15 million pounds ($24.5 million).

A stock exchange filing published on Thursday showed Gissing, currently Ocado’s commercial director, sold 3.05 million shares at 498.75 pence on February 4, reducing his stake in the group by 0.52 percent to 2.56 percent.

Ocado said on Tuesday Gissing wanted to spend more time with his family and focus on environmental and social issues.

Shares in Ocado, which have risen nearly five-fold over the last 12 months, were up 1.6 percent at 535 pence at 1030 GMT.

($1 = 0.6133 British pounds)

Reporting by James Davey, Editing by Paul Sandle

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