Ocado Retail chief Melanie Smith to quit

Melanie Smith, chief executive of Ocado Retail, is to leave the business at the end of August and will be replaced by Lawrence Hene, a non-executive at the company, on an interim basis.

Ocado Retail is a joint venture between Ocado and Marks and Spencer, where Smith was formerly employed.

Smith said it was “the right time to move on to new challenges”. Tim Steiner, the Ocado co-founder who chairs the venture, praised Smith’s “incredible energy”, adding that there was “no question that [she] leaves the business well prepared for faster growth in the years to come”.

A permanent successor will be appointed “in due course”, according to Ocado.

Sales growth at Ocado Retail has softened in recent months as consumers have returned to in-store shopping and average basket sizes have retreated from their pandemic highs. Ocado Retail is due to report half-year results on Thursday.