Sep 7, 2022
Ocado Retail appoints new chief as online pandemic boom fades
Ocado Retail has appointed Hannah Gibson as its new chief executive, after Mel Smith left the business at the end of August as the pandemic-driven boom enjoyed by the online retailer ended. Tim Steiner, chief executive of Ocado Group and chair of the joint venture, said he was confident that Gibson would deliver on Ocado Retail's growth ambitions "Whilst also being able to navigate the nearer-term challenges associated with the macroeconomic environment". Ocado has the additional problems of its relatively small size - its national market share is about 2 per cent - and falling average basket sizes as consumers returned to physical stores after shopping online during the pandemic. Her first role at Ocado was head of product and merchandising at Ocado Retail, though at that time it was a wholly owned subsidiary of Ocado rather than a joint venture. Her appointment means that both the chair and chief executive of the joint venture now come from the Ocado side, whereas Smith had previously worked for M&S. However, M&S chief executive Stuart Machin and finance director Eoin Tonge are both non-executives on the Ocado Retail board.
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