Ocado Retail has announced that Melanie Smith will step down as Chief Executive of the joint venture, effective 31 August 2022.
During her time as CEO of the company, Smith has scaled up Ocado Retail, improving its buying capability and investing in strengthening its brand. The company also built up an entire data business.
Smith noted: “After three years now is the right time for me to move on to new challenges and I leave behind a strong business, full of energetic, amazing colleagues that have achieved so many great things and I know will take the business onwards to achieve many more.”
Stuart Machin, CEO of Marks & Spencer, said: “Mel has been fundamental in establishing our joint venture and the successful switchover to M&S supply. I am grateful for the contribution she has made in this early phase. While today’s market conditions are tough for everyone, we believe in the long-term opportunity of our partnership and the substantial further potential in the joint venture.”
The company, co-owned by Ocado Group and Marks & Spencer, said that Smith will be succeeded by Lawrence Hene on an interim basis. Hene, formerly a deputy CEO at Ocado Retail, has been a non-executive director of the joint venture since August 2019. Ocado Retail added that a permanent successor will be appointed “in due course”.
NAM Implications:
- Given the rate of unprecedented global change…
- Coupled with the growing appeal of Ocado web services…
- …there will come a time when spinning off Ocado Retail will allow Ocado to focus on optimising its real potential.
- Perhaps this will influence its new recruitment initiative.
- (besides prompting M&S to complete an obvious acquisition?)
