Debenhams finance chief exits after just 12 months to join Ted Baker
Debenhams finance chief Rachel Osborne has stepped down in order to join struggling fashion brand Ted Baker.
Osborne was appointed chief finance officer at the embattled department store in September last year, and has quit after one year to take on the same role at Ted Baker.
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Debenhams group finance director Mike Hazell will replace Osborne as chief financial officer.
Both companies have suffered in the current challenging retail environment.
In June Ted Baker issued a profit warning and was also the centre of a scandal as founder Ray Kelvin was forced to resign as chief executive amid allegations of sexual harassment, which he denies.
Debenhams is currently working to implement a restructuring plan after fighting off a legal challenge to its company voluntary arrangement (CVA) funded by Sports Direct boss Mike Ashley.
Ted Baker executive chairman David Bernstein said Osborne’s “experience of working in the challenging retail environment we currently face will be highly valuable”.
Osborne was previously the chief financial officer of Domino’s Pizza Group, finance director of Group Enterprise at Vodafone and finance and strategy director at John Lewis.
She has also held senior positions at Sodexo, Kingfisher and Pepsico.
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Osborne said: “I am thrilled to be joining Ted Baker as chief financial officer.
“Ted Baker is an outstanding global brand and I am hugely looking forward to the opportunity to contribute to the next phase of development.”