Debenhams appoints Rachel Osborne as Chief Financial Officer

- Leadership - Aug 22, 2018

The UK retail company, Debenhams, has announced the appointment of a new Chief Financial Officer.

Rachel Osborne will join the company on 17 September, replacing Matt Smith, who announced in April his plans to join retail rival Selfridges under the same role.

Smith will leave Debenhams at the end of this month after working as the CFO at the firm for three years.

Prior to her new role, Osborne has held positions such as Director of Business Performance at Kingfisher, Finance and Strategy Director at John Lewis, Non-Executive Director at Dunelm, and Chief Financial Officer at Dominoes.

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“I am looking forward to working with Rachel,” remarked Sergio Bucher, CEO of Debenhams.

“She has deep experience across a variety of retail and customer-facing businesses and her commercial expertise will be invaluable as we build a strong financial foundation to underpin the transformation of Debenhams.”

The new CFO will earn a basic salary of £439,000 (US$559,856), with bonus schemes having the potential to increase the figure by 200%.

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

“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.”

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