(Adds background on Haythornthwaite, Ocado’s forecasts)
Dec 18 (Reuters) - Ocado Group said it intends to appoint Mastercard Chairman Richard Haythornthwaite as independent non-executive chairman of the British online supermarket’s board in its May 2021 annual general meeting to replace Stuart Rose, who will be retiring from the role.
Haythornthwaite, who has been chairman of Mastercard for 14 years, will join the Ocado board as an independent non-executive director with effect from January 2021 before assuming the chairman’s role after Ocado’s AGM in May, the company said on Friday.
He will retire from his position at Mastercard at the end of the year, the statement added.
Haythornthwaite is also a non-executive director at digital services company Globant SA and has previously held the position of chairman at Centrica Plc, Britain’s largest energy supplier, and state-owned rail track owner Network Rail .
Last week, Ocado raised its annual earnings forecast for the second time in two months. The group has seen sales soar this year as the COVID-19 pandemic has generated huge demand for grocery home delivery.
Ocado forecast earnings before interest, tax, depreciation and amortisation (EBITDA) of “over 70 million pounds” ($94.49 million) for 2019-20 versus a previous forecast of “over 60 million pounds”.
$1 = 0.7408 pounds Reporting by Kanishka Singh in Bengaluru; Editing by Tom Brown