Ocado has appointed seasoned investment banker Andrew Bracey as its chief financial officer, fuelling speculation it is gearing up for an IPO.
Bracey joins from Jefferies International, where he was head of consumer and retail investment banking and advised Ocado.
He has spent 18 years in investment banking, and previously worked at Barclays Capital and UBS.
He will take over the role from the online grocer’s co-founder Jason Gissing, who will concentrate on other parts of the business.
Ocado chief executive and co-founder Tim Steiner said: “We are delighted Andrew is joining the Ocado team as CFO after many years working closely with us. He will complement the existing executive team of Jason, Neill and myself.
“His joining will also free up my co-founder Jason to focus on the development of our customer offer, the Ocado team, the culture within our business and communications. Andrew knows Ocado extremely well and also brings substantial city experience, key for our future, as well as having great retail insight having acted as adviser, investor and director across the sector. Andrew will be a great addition to the Ocado team.”