Partly Cloudy

Partly Cloudy

max temp: 21°C

min temp: 18°C

ESTD 1874 Search

The pigs have arrived. See the latest

Pigs Gone Wild

news here.

UK: Ex-M&S boss Sir Stuart Rose to become chairman of Ocado

09:09 22 January 2013

Sir Stuart Rose

Sir Stuart Rose

RETAIL veteran Sir Stuart Rose is to become chairman of online grocer Ocado in his most high profile appointment since stepping down from the helm of Marks & Spencer.

Ocado announced today that Sir Stuart will take on the role when current chairman Lord Grade retires on May 10.

His appointment marks a return to the stock market after leaving M&S in January 2011 following a six year tenure with the high street giant.

It also comes as a major coup for Ocado, which recently reported a solid Christmas trading performance with sales up 14% to £91.6 million in the six weeks to January 6.

Sir Stuart, who has a home in Suffolk, said: “I have been very impressed at the impact and progress Ocado has made to date.

“As retail goes through a fundamental shift into the digital world, I believe Ocado’s model and the high standards of customer service it provides will see it emerge as a powerful online player.”

He joins Ocado as it faces intense competition from major supermarket chains such as Sainsbury’s and Tesco.

Despite a successful Christmas, Ocado has yet to post an annual profit and has suffered a turbulent start to life as a listed company since floating in July 2010.

Lord Grade said he was leaving the company in the “best possible hands”, adding that the group will benefit from Sir Stuart’s “substantial retail experience and commercial acumen”.

Sir Stuart has maintained a low profile since leaving M&S, although he made his return to the high street last June as chairman of discount fashion chain Blue Inc, which has close to 200 stores.

He is also chairman of online fashion recommendation service Dressipi and is a non-executive director of Woolworths, the South African food and clothes group.

0 comments

Barclays chief executive Jes Staley.

Banking giants will dominate reporting this week, with the City looking out for any Brexit concerns when Barclays and Lloyds deliver their half-year results.

An artist's impression of the new look planned for the former BBC Television Centre bulding in the White City area of west London.

Mildenhall-based English Architectural Glazing (EAG) has won a major contract to carry out work as part of the multi-million-pound regeneration of the former BBC Television Centre in London.

Laurence Johnson and Daniel Le Sauvage of Urban Vintage in Framlingham.

An award-winning independent men’s fashion retailer from Suffolk is celebrating its new store opening today with special offers and free drinks.

Sizewell C

Proposals to build a new £16billion nuclear power station on the Suffolk coast will move a step closer next week.

Alex Till, chief executive of Menta, left, with John Baxter, managing director of eAlliance Learning Technology which has formed an online learning partinership with the enterprise agency.

Suffolk-based business support organisation Menta has launched a new online learning partnership to help busy entrepreneurs develop their skills.

HOT JOBS

Show Job Lists

Most read

Most commented

Topic pages

Streetlife

Newsletter Sign Up

Sign up to the following newsletters:

Great British Life

Great British Life
MyDate24 MyPhotos24