Ted Baker names Rachel Osborne as permanent boss

Osborne joined Ted Baker from Debenhams as finance boss last November but was appointed acting chief executive the following month.

She was parachuted into the hot seat following a period of turmoil for the fashion business.

Founder and former boss Ray Kelvin stepped down last March amid allegations of misconduct, including “forced hugging”.

His replacement, Lindsay Page, and chair David Bernstein both left the business in December after it issued its fourth profit warning in the space of 12 months.

Osborne has already made progress in her bid to put the business back on a firmer footing.

She has reshaped her senior leadership team, drafting in Jennifer Roebuck to the newly created role of chief customer officer and hiring American fashion designer Michael Bastian as interim creative officer.

As revealed by Retail Week, Osborne slashed Ted Baker’s executive board from 13 members to nine last month. Category director Rebecca Rodden, special projects director Mat Ashby and production director Donald Browne will all exit the business by the end of April as part of the restructure.

Osborne also gave the green light to the sale and leaseback of Ted Baker’s headquarters in a £79m deal to shore up its balance sheet.

Ted Baker’s acting chair Sharon Baylay said: “Rachel has already made a significant contribution to Ted Baker, working tirelessly in recent months to develop a transformation plan for the business. She has brought hugely relevant retail and customer experience and is ideally positioned to lead Ted Baker’s turnaround in the future.”

Osborne added: “The time I have spent at Ted Baker has quickly confirmed to me what a special business this is. We have challenges to face into in the coming months, not least the significant uncertainty caused by Covid-19, but I am confident that we will succeed through the hard work of our colleagues and the strength of our brand.

“Over the last few months, we have put together a clear plan to transform Ted Baker and ensure its long-term success. I look forward to leading the business through this critical period of change and seeing the benefits of our plan come to fruition.”