Ocado will have difficulty finding a new CEO given the current issues facing the business, but the time-frame enables the company to find the right candidate, Bernstein analysts write. The U.K. grocery-technology company said it started the process to search for a new CEO and that it expects to complete the search around the start of fiscal 2028, when Tim Steiner will step down and move to a founder role. Bernstein says the move could provide the catalyst for further rationalization of the business and possible sale of its retail joint venture to Marks & Spencer. Shares are down 2% at 180.10 pence, and 24% lower over the year to date. (ian.walker@wsj.com)