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Ocado founder’s ex-wife says she’s ‘delighted’ about eye-watering his £58m windfall


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EXCLUSIVE: ‘Good luck to him!’ Ocado boss’s ex-wife says she’s ‘delighted’ about eye-watering £58m bonus awarded to high-flier who left her for Polish lingerie model 20 years his junior

  • Belinda Cohen says she has no regrets over divorcing Ocado chief executive Tim Steiner with whom she has four children
  • The 48-year-old ended her marriage with Steiner in 2016 when the couple went through an acrimonious divorce worth £116million 
  • Now her former husband, who is dating a lingerie model, 30, has been awarded a huge windfall from the food delivery firm he founded in 2000
  • Speaking from her home in north London, Belinda said: ‘Congratulations to him. I’m absolutely delighted.’

Belinda Cohen was married to Ocado boss Tim Steiner for 14 years having four children 

The ex-wife of Ocado boss Tim Steiner said today ‘good luck to him!’ after her former husband bagged a £58.7million bonus.

Belinda Cohen insists she has no regrets over the divorce from the 50-year-old food delivery chief executive after he was awarded the huge bonus despite Ocado’s losses of £214million.

Speaking to MailOnline at her £3.5million north London home, Belinda, 48, said: ‘Congratulations to him. I’m absolutely delighted. It’s a fantastic amount of money. Good luck to him.

She added: ‘I don’t have any regrets. I don’t have any contact with him, but I did my bit to get him to where he is, and the rest has all been down to him. There are no hard feelings. I just wish him lots of luck in the future.’

Belinda wed the city high-flier in 1999, the year before he founded Ocado. Their marriage floundered in 2016 and Mr Steiner is now dating glamorous Polish model Patrycja Pyka, 30. 

Steiner, 50, pictured with lingerie model Patrycja Pyka, 30, was awarded a £58million bonus for his work with Ocado despite the company posting losses of £214million

Steiner, 50, pictured with lingerie model Patrycja Pyka, 30, was awarded a £58million bonus for his work with Ocado despite the company posting losses of £214million

The food delivery chief executive set up home with Polish model Patrycja Pyka, who is 30 years his junior, after splitting with his wife Belinda and going through an acrimonious divorce

The food delivery chief executive set up home with Polish model Patrycja Pyka, who is 30 years his junior, after splitting with his wife Belinda and going through an acrimonious divorce

The end of their marriage led to an acrimonious court battle with the father-of-four dividing his £116 million fortune with Belinda. 

Belinda insists she has no regrets about Steiner now being catapulted into the realms of the UK’s super-rich following their divorce.

Belinda was pictured at the High Court in 2016 as she battled over their £116m divorce

Belinda was pictured at the High Court in 2016 as she battled over their £116m divorce

He is also in line to receive a special £100million bonus if Ocado’s share price continues to soar in the next five years.

His pay-out is one of the largest ever to a British chief executive, falling just below the £70million paid to advertising mogul Sir Martin Sorrell in 2015.

The bonus announcement is a large increase on the £4million which Mr Steiner received last year and follows a shareholder revolt against the company’s pay policy at its annual general meeting.

The online supermarket has been a runaway success on the stock market thanks to its ability to sell futuristic robotic warehouses abroad.

Under his leadership, Ocado shares have risen more than five-fold since late 2017. A saver who invested £1,000 in Ocado in December 2017 would now have £5,255.

Earlier this week, the value of Mr Steiner’s shareholding in Ocado had increased to close to £296million.

Mr Steiner’s eye-watering pay packet came as the company’s losses ballooned from £44million to £214million, which it blamed in part on a fire at its warehouse in Andover last year.

The former couple's assets included a £15million mansion in Highgate (above), north London, and a ski chalet in French resort Courchevel

The former couple’s assets included a £15million mansion in Highgate (above), north London, and a ski chalet in French resort Courchevel

The largest component of Mr Steiner’s 2019 pay was a ‘growth incentive plan’, which paid £54million if Ocado’s share price outgrew its stock market rivals by more than 20 per cent per year between 2014 and 2019.

Finance chief Duncan Tatton-Brown and operations director Mark Richardson both banked £14million, while Luke Jensen, who runs Ocado’s technology business, received £6million.

 

Read more at DailyMail.co.uk


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