Debenhams appoints Domino’s Rachel Osborne as new CFO

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Debenhams credit insurers

Embattled department store Debenhams this morning revealed it has named Rachel Osborne as new chief financial officer.

Osborne previously worked as chief financial officer for Domino’s Pizza, which she left with immediate effect back in June after serving less than two years in the role.

The sudden departure caused questions to be raised at Domino’s over the pace of its staff turnaround, with Osborne becoming the company’s third chief of finance in three years.

Osborne also has experience as an executive at Vodafone, Kingfisher and John Lewis.

She’ll join Debenhams on September 17, a few weeks after the departure of current finance chief Matt Smith, who told the board of his intentions to leave Debenhams in April.

“I am delighted to be joining Debenhams,” Osborne said.

“This is a challenging time for UK retail but Debenhams has a strong heritage, leading market positions and a credible plan for its future. I look forward to being part of the team delivering the transformation.”

The changeover comes as Debenhams fights a battle for survival on the high street after issuing three profit warnings in this year alone.

Last week it was revealed that hundreds of jobs are under question at the retailer after launching its redundancy consultation.

It’s thought the talks could result in around 90 members of staff losing their jobs.

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