Sir Stuart Rose, who stepped down as chairman of M&S back in 2011, will take up the position of chairman at online grocer Ocado.
Despite the retailer’s sales jumping by 14.2 per cent in the six weeks to 5 January, the online market overall is growing at around 18 per cent, and it is hoped Rose can reverse its fortunes.
He said: “I believe Ocado’s model and its high standards of customer service will see it emerge as a powerful online player.”
Sir Stuart will become chairman on May 10 at the company’s annual meeting andTim Steiner, Ocado’s chief executive, said the company will benefit from Sir Stuart’s “extensive retail experience and counsel”.
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