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Ovo Energy has unveiled the former head of food delivery app Just Eat as its new chief executive.
David Buttress will join the company in May, replacing Raman Bhatia, who quit earlier this month after two years at the helm.
Buttress joined Just Eat in 2006 as the fledgling service launched in the UK, eventually becoming chief executive and listing the company on the stock exchange. Since leaving the company in 2017, Buttress has been an angel investor and currently chairs online pharmacy Zava. He was also briefly the government’s cost of living tsar in 2022.
Earlier this month former Sainsbury’s chief executive Justin King joined Ovo as chairman. He said: “David knows retail and he knows what consumers want. His instinct changed the food delivery market for the better. Now he has the opportunity to deliver for millions of UK households in energy, bringing compassion and collaboration, two of his hallmarks. He’s the perfect fit for Ovo, leading our outstanding team as we enter our next chapter.”
Buttress described Ovo, which serves more than four million customers, as “energy’s first challenger brand” and said he wanted us to continue in this spirit.
He added: “Busy families need suppliers of all kinds to display a high degree of empathy and consideration for what they need in their lives. I believe we can provide the right service, products and experiences needed to meet that demand and more.
“I’ll be focused on getting things right for the people we serve, and I’m excited to join the team and get started. Together we will build the energy company our customers need, not only for the demands of today, but also for the products and services for our customers tomorrow.”
In its most recently published results, for year ending 31 December 2022, Ovo saw its revenues increase by more than £2 billion to £6.7 billion. However, profits plummeted from £335 million in 2021 to a loss of £1.275 billion.
Daniel Sasaki, managing partner at Ovo backer Mayfair Equity Partners, said: “David’s success at Just Eat and his other board roles has shown him to be a pioneer of digital disruption, something we are also proud of at Ovo. His reputation for driving exceptional results through collaborative leadership is exactly what we need to fuel the next stage of Ovo’s development, and we are pleased to welcome him as chief executive.”
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