Tim Steiner (businessman)

Last updated

Tim Steiner
Born
Timothy Steiner

November 1969 (age 53)
NationalityBritish
Education Haberdashers' Boys' School
Alma mater University of Manchester
OccupationBusinessman
Known forco-founder and CEO, Ocado
Term2000–present
Spouse
Belinda Steiner
(m. 1989;div. 2018)
Children4

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]

Contents

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]

Related Research Articles

<span class="mw-page-title-main">Slavica Ecclestone</span> Croatian model and ex-wife of Bernie Ecclestone

Slavica Ecclestone is a Croatian former model and the ex-wife of former Formula 1 CEO Bernie Ecclestone.

<span class="mw-page-title-main">Ocado</span> British online supermarket

Ocado Group is a British business based in Hatfield, England, which licenses grocery technology. It also owns a 50% share in the UK retail business, Ocado.com. The company is listed on the London Stock Exchange and is a constituent of the FTSE 100 Index.

Stephen Peter Morgan is an English businessman, investor, and philanthropist. He is the founder and former chairman of the housebuilders Redrow plc, a former chairman of Wolverhampton Wanderers F.C., and founder of the charitable Steve Morgan Foundation.

Mohammed Anwar Pervez OBE, HPk is a Pakistani-born British billionaire businessman and former bus conductor and driver. He is the founder and chairman of Bestway Group.

Jason Gissing is one of the founders of Ocado, the largest online supermarket in the world.

Anthony Paul Bamford, Baron Bamford, is a British billionaire businessman who is the chairman of J.C. Bamford Excavators Limited (JCB). He succeeded his father, Joseph Cyril Bamford, as chairman and managing director of the company in 1975, at the age of 30. He was knighted in 1990 at the age of 45. He has appeared in the Sunday Times Rich List, and in 2021 his net worth was estimated at US$9.48 billion. Bamford is a car collector whose collection includes two examples of the rare Ferrari 250 GTO, valued upwards of $70 million each.

Robert Stephen Rubin, is a British billionaire businessman. He is the chairman, and co-owner of Pentland Group, the holding company for a number of sporting goods companies, based in Finchley, north London. As of May 2021, his net worth was estimated at £6.4 billion.

Andrew Eric Law is a British financier, hedge fund manager and philanthropist. He is the chairman, chief executive officer (CEO), and major shareholder of Caxton Associates, a hedge fund headquartered on Berkeley Square in London. He is a major donor to the Conservative Party.

Stephen James Fitzpatrick is a Northern Irish businessman, founder of OVO Energy, Vertical Aerospace and former owner of the Manor Racing team.

<span class="mw-page-title-main">Alex Chesterman</span> British internet entrepreneur

Alexander Edward Chesterman is a British Internet entrepreneur, co-founder of ScreenSelect, which later became part of online film distributor LoveFilm, and is the founder and CEO of online used car platform Cazoo.

Chrissie Rucker is a British businesswoman, best known for founding British retailer The White Company in 1994. Because of her self-made success story and the similar products, she has been compared to Martha Stewart. Rucker is also a founding patron of the not-for-profit social enterprise, woman supporting women, The Princes Trust.

For the American musician, see Michael Sherwood.

Roger Mark Whiteside is a British businessman, the former chief executive (CEO) of Greggs, the largest bakery chain in the United Kingdom.

José Manuel Ferreira Neves is a Portuguese entrepreneur and the founder of Farfetch, a global luxury fashion online platform.

Sir Malcolm Conrad Walker is an English businessman who is the founder of Iceland Foods Ltd.

Hambro Perks is a London-headquartered investment firm. Hambro Perks was founded in 2013 by Rupert Hambro CBE and Dominic Perks. Sir Anthony Salz is the Chairman of Hambro Perks.

Sidney Charles Mullins is a British businessman. He is the founder of Pimlico Plumbers, London's largest independent plumbing company, which he sold in 2021.

Jonathan Faiman was one of the three founders of online grocery and technology business Ocado in 2000. He left the business in 2008, before the company floated on the London Stock Exchange. Faiman sold most of his shares in Ocado in 2010 at the time of its IPO for a reported value of £7 million. If owned in May 2020, the shares would have been worth over £500 million.

Mohsin Issa CBE and Zuber Issa CBE are British-Indian billionaire brothers and businessmen who founded Euro Garages in 2001, a Blackburn-based chain of petrol filling stations and convenience stores that operates in Europe, the United States and Australia. In 2020, as part of a consortium with TDR Capital, the brothers became majority stakeholders in the British supermarket chain Asda. EG's annual sales across ten countries were valued at €20 billion in 2020.

Alex Gerko is a Russian-born financial trader and founder of XTX Markets based in the United Kingdom.

References

  1. "Ocado Group PLC OCDO stock | London Stock Exchange". www.londonstockexchange.com. Retrieved 23 May 2023.
  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. "Timothy STEINER – Personal Appointments (free information from Companies House)". Companies House, Government of the United Kingdom. Retrieved 27 January 2018.
  4. O’Doherty, John (20 July 2010). "Profile: Ocado founders". Financial Times. Retrieved 27 January 2018.
  5. 1 2 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. 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. 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. "Search - The Electoral Commission". search.electoralcommission.org.uk. Retrieved 20 July 2021.
  9. "Highgate Ocado boss faces ex wife in one of Britain's biggest ever divorce battles". hamhigh.co.uk. Retrieved 27 January 2018.
  10. "Judge rules to keep Ocado boss' multi-million pound divorce private". London Evening Standard. 26 July 2016. Retrieved 27 January 2018.