Ocado has named Rachel Osborne as its new independent non-executive director as takeover speculation continues.
Osborne will start her role with effect from September 1 and will also be part of Ocado’s Audit Committee and the People Committee.
Osborne was most recently chief executive at Ted Baker, stepping down from the role in June 2023.
Her previous roles include chief financial officer at Debenhams, chief financial officer at Domino’s Pizza Group and finance director of the John Lewis Division within the John Lewis Partnership.
This comes after The Times reported that Lingotto, the new fund backed by Italy’s billionaire Agnelli dynasty, raised its stake in Ocado to more than 5% on June 23 as the grocer’s share prices saw a nearly 50% spike amid rising speculations of a takeover from Amazon.
Ocado chairman Rick Haythornthwaite said: “I am delighted to welcome Rachel to our board. Rachel’s significant executive experience and strategic approach will be a valuable addition to the board and I look forward to working with her.”
Osborne said: “I am delighted to be joining the Ocado Group board at an exciting time for the group, with new innovations driving efficiency and growth to deliver existing and new opportunities globally. I am looking forward to working with the rest of the board to continue Ocado’s journey.”
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