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Tim Steiner (businessman)
British businessman (born 1969) From Wikipedia, the free encyclopedia
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Tim Steiner OBE (born 9 December 1969) is a British businessman who 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]
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Early life
Tim Steiner was born on 9 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.[3] 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]
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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
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