Aug 22, 2018
Debenhams appoints Rachel Osborne as finance chief
Department store chain Debenhams has appointed Rachel Osborne as its new chief financial officer to replace Matt Smith who is leaving for upmarket rival Selfridges. Debenhams has had a difficult year: there have been a number of profit warnings and in July it was forced to deny it was facing a " cash crisis". Sports Direct also owns 29 per cent of Debenhams, but co-operation between the two companies has so far been limited to opening a handful of Sports Direct concessions in Debenhams stores. "I am delighted to be joining Debenhams. This is a challenging time for UK retail but Debenhams has a strong heritage, leading market positions and a credible plan for its future," said Ms Osborne. Chief executive Sergio Bucher said: "I am looking forward to working with Rachel. She has deep experience across a variety of retail and customer-facing businesses and her commercial expertise will be invaluable as we build a strong financial foundation to underpin the transformation of Debenhams."
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