Debenhams chief financial officer Rachel Osborne has stepped down from the business to join Ted Baker in the same role.
Ted Baker said Osborne will join the company in the next few months. Osborne joined Debenhams as CFO in August 2018, following a stint as CFO at Domino’s. She worked at John Lewis as finance and strategy director from 2011 until 2015. She has also held senior positions with Sodexo, Kingfisher and PepsiCo.
Debenhams’ current group finance director, Mike Hazell, will take over as CFO and join the group’s board. Hazell has been with Debenhams since February 2010 and previously held finance roles at Sky and Pfizer, among others.
Stefaan Vansteenkiste, Debenhams’ CEO, said: “I would like to thank Rachel for her important contribution to the successful progress of our restructuring during her time at Debenhams. I am pleased that we have such a strong internal candidate for the CFO role, with Mike having played a key part in the refinancing and restructuring activity over the past 12 months. I look forward to working with him and the rest of the leadership team on delivering our turnaround plan.”
David Bernstein, executive chairman at Ted Baker, said: “Rachel’s career to date makes her a great fit for the board and we are delighted to welcome her to Ted Baker. As our strategy to grow the business continues, Rachel’s experience of working in the challenging retail environment we currently face will be highly valuable. We look forward to leveraging her significant brand and retail experience and expertise moving forward.”
Vansteenkiste joined Debenhams in April 2019 as chief restructuring officer. It came after Debenhams entered into a pre-pack administration in April and then-chief executive Sergio Bucher exited, leaving non-executive chairman, Terry Duddy, in the role of interim executive chairman.