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Former M&S Chairman to join Ocado in senior role

Online food company Ocado has unveiled Sir Stuart Rose, who was formerly the Executive Chairman of the British retailer Marks & Spencer, as its new independent Non-Executive Director and Chairman Designate, effective from March 11th.

Online food company Ocado has unveiled Sir Stuart Rose, who was formerly the Executive Chairman of the British retailer Marks & Spencer, as its new independent Non-Executive Director and Chairman Designate, effective from March 11th.

Two months later the City grandee will become Chairman, following the group's annual general meeting on May 10th.

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Lord Grade is set to retire as both a Non-Executive Director and as Chairman on the same day.

Tim Steiner, Chief Executive Officer, said: "Sir Stuart is joining Ocado as we enter a hugely exciting period, with a near doubling of our capacity. We are looking forward to benefiting from his extensive retail experience and counsel."

Sir Stuart Rose commented: "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."

"I am looking forward to being part of the team," he added.

NR

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