Tim Steiner (businessman)
{{Short description|British businessman (born 1969)}}
{{Use dmy dates|date=February 2020}}
{{EngvarB|date=February 2020}}
{{Infobox person
| name = Tim Steiner
| image =
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| caption =
| birth_name = Timothy Steiner
| birth_date = {{birth date and age|1969|11|9|df=y}}
| birth_place =
| death_date =
| nationality = British
| education = Haberdashers' Boys' School
| alma mater = University of Manchester
| occupation = Businessman
| known for = co-founder and CEO, Ocado
| term = 2000–present
| predecessor =
| successor =
| boards =
| spouse = {{marriage|Belinda Steiner|1989|2018|end=divorce}}
| children = 4
| parents =
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| website =
}}
Tim Steiner {{post-nominals|country=GBR|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.{{Cite web|title=Ocado Group PLC OCDO stock {{!}} London Stock Exchange|url=https://www.londonstockexchange.com/stock/OCDO/ocado-group-plc/company-page|access-date=2023-05-23|website=www.londonstockexchange.com}} The 2020 Sunday Times Rich List estimates that Steiner is worth £403 million.{{Cite news|last=Times|first=The Sunday|title=Rich List 2020: profiles 304-399=, featuring Simon Cowell and Sir Elton John|newspaper=The Times |language=en|url=https://www.thetimes.com/uk/article/rich-list-2020-profiles-304-399-featuring-simon-cowell-and-elton-john-fsfw72cck|access-date=2020-06-03|issn=0140-0460}}
Early life
Tim Steiner was born on 9 December 1969.{{cite web|last=Shah|first=Oliver|date=30 December 2018|title=Steiner delivers the last laugh at Ocado|url=https://www.thetimes.com/article/steiner-delivers-the-last-laugh-at-ocado-hst3rlv2t|work=The Sunday Times}} He was educated at Haberdashers' Boys’ School in Elstree, Hertfordshire. He read Economics at the University of Manchester.{{cite news|last1=O’Doherty|first1=John|date=20 July 2010|title=Profile: Ocado founders|work=Financial Times|url=https://www.ft.com/content/dc6f0230-8bb0-11df-ab4d-00144feab49a|accessdate=27 January 2018}}{{cite news|url=https://www.telegraph.co.uk/news/2016/03/19/ocado-boss-is-dating-polish-model-twenty-years-his-junior-after/|title=Ocado boss is dating Polish model twenty years his junior after filing for divorce from wife|first=Camilla|last=Turner|date=19 March 2016|accessdate=27 January 2018|work=The Daily Telegraph}}
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. 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|date=October 2020}}
In February 2020, it was announced that Steiner received a pay package of £58.7 million for the year to 1 December 2019.{{Cite news|last=Editor|first=Ashley Armstrong, Retail|url=https://www.thetimes.com/business-money/companies/article/ocado-chief-tim-steiner-paid-59m-despite-record-loss-8206r03cx|title=Ocado chief Tim Steiner paid £59m despite record loss|newspaper=The Times |access-date=12 February 2020|issn=0140-0460}}
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.{{Cite news|last=Benstead|first=Sam|date=2020-05-12|title=How Ocado, Britain's 'best tech stock', is growing faster than Amazon|language=en-GB|work=The Telegraph|url=https://www.telegraph.co.uk/investing/shares/ocado-britains-best-tech-stock-growing-faster-amazon/|access-date=2020-06-03|issn=0307-1235}}
Steiner donated £50,000 to the Conservative Party during the 2019 United Kingdom general election.{{Cite web|title=Search - The Electoral Commission|url=http://search.electoralcommission.org.uk/?currentPage=1&rows=10&query=tim%20steiner&sort=AcceptedDate&order=desc&tab=1&et=pp&et=ppm&et=tp&et=perpar&et=rd&isIrishSourceYes=true&isIrishSourceNo=true&prePoll=false&postPoll=true®ister=gb®ister=ni®ister=none&optCols=Register&optCols=CampaigningName&optCols=AccountingUnitsAsCentralParty&optCols=IsSponsorship&optCols=IsIrishSource&optCols=RegulatedDoneeType&optCols=CompanyRegistrationNumber&optCols=Postcode&optCols=NatureOfDonation&optCols=PurposeOfVisit&optCols=DonationAction&optCols=ReportedDate&optCols=IsReportedPrePoll&optCols=ReportingPeriodName&optCols=IsBequest&optCols=IsAggregation|access-date=2021-07-20|website=search.electoralcommission.org.uk}}
Personal life
Steiner was brought up in North London. He has four children with ex-wife Belinda.{{cite web|title=Highgate Ocado boss faces ex wife in one of Britain's biggest ever divorce battles|url=http://www.hamhigh.co.uk/news/crime-court/highgate-ocado-boss-faces-ex-wife-in-one-of-britain-s-biggest-ever-divorce-battles-1-4599610|accessdate=27 January 2018|website=hamhigh.co.uk}} The couple were divorced in 2016.{{cite web|date=26 July 2016|title=Judge rules to keep Ocado boss' multi-million pound divorce private|url=https://www.standard.co.uk/news/uk/judge-rules-to-keep-ocado-boss-multimillion-pound-divorce-settlement-private-a3305181.html|accessdate=27 January 2018|website=London Evening Standard}}
References
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Category:British chief executives
Category:British retail chief executives
Category:British online retailer founders
Category:Officers of the Order of the British Empire
Category:People educated at Haberdashers' Boys' School
Category:Conservative Party (UK) donors