Retail veteran Sir Stuart Rose is to become chairman of online grocer Ocado in his most high profile appointment since stepping down from the helm of Marks & Spencer.
The group said Sir Stuart will take on the role when current chairman Lord Grade retires on May 10. His appointment marks a return to the stock market after leaving M&S in January 2011 following a six year tenure with the high street giant.
It also comes as a major coup for Ocado, which recently reported a solid Christmas trading performance with sales up 14% to £91.6 million in the six weeks to January 6.
Sir Stuart said: "I have been very impressed at the impact and progress Ocado has made to date.
"As retail goes through a fundamental shift into the digital world, I believe Ocado's model and the high standards of customer service it provides will see it emerge as a powerful online player."