Ocado investors hope the retail technology giant can signal a positive outlook for the coming years amid reported unrest among its leaders.
The company has seen its share value fall by about a quarter over the past year amid pressure from the closure of some of its robotic warehouses and testing conditions for consumers.
On Thursday, the group will release its latest half-year results as it looks to maintain recent growth.
However, the update comes against the backdrop of boardroom unrest between its two most senior executives.
Ocado chairman Adam Warby and Tetra Pak billionaire Jorn Rausing, a shareholder and board member, reportedly attempted to oust founder and chief executive Tim Steiner amid concerns about their share price.
However, there was backlash from several long-term investors, with several of them threatening to seek Warby's ouster if the CEO was removed.
On Monday, Ocado said Steiner would remain at the helm until December next year, but confirmed succession plans after months of speculation.
The group said it would seek to finalize the plans at the start of its 2027-28 financial year, which begins on December 1, 2027.
Steiner, one of the founders of Ocado in 2000, will remain chief executive until then.
After his successor is appointed, he will remain with Ocado as an advisor in a “founding role”, providing strategic advice to the board and management until 2029.
The company's shares fell further after the plan for its long-term exit was confirmed.
Investors will therefore be interested in Steiner and other members of the group's management outlining their long-term plans for the company.
Ocado has a grocery retail business that it runs as a joint venture with Marks & Spencer, and a division that runs robotic warehouses and technology platforms for supermarkets.
The company said in February that around 1,000 jobs (around 5% of its global workforce) were being cut, mainly at its Hertfordshire headquarters, as part of restructuring efforts.
It is also looking to drive improvements in its technology division, which recently revealed a proposal to close warehouses managed with grocery partners in North America, Kroger in the United States and Sobeys in Canada.
However, the group has also moved forward with new partnerships, including a recently announced deal with Asda.
In its new update, the group is expected to report a rise in revenue, with JP Morgan analysts pointing to 2.4% year-on-year growth for the six months to May.
Rising orders from its joint venture Ocado Retail are expected to have boosted logistics revenue during the period.
The group is also likely to provide an update on its long-standing target of reporting positive cash flow in the second half of this financial year.
AJ Bell head of financial analysis Danni Hewson said: “The upcoming results will give a snapshot of Ocado today, but what matters more is how Ocado plans to become a stronger business entity in the long term.
“Its growth plans have been disappointing, so it needs bolder ideas.”
