Parsley Box has appointed former John Lewis & Partners director Simon Russell as its new managing director.
He has more than 20 years of experience in various leadership roles at the department store. He will now be responsible for customer service, product development and the day-to-day running of the meal delivery service for older people.
Prior to joining Parsley Box, he ran his own retail consultancy, advising investors, retailers and start-ups on omnichannel strategy, digital transformation and turnaround.
The new appointment will let chief executive Kevin Dorren increase his focus on strategic growth opportunities.
Parsley Box also confirmed that the group is on track to deliver its end of year goal full year revenue marginally over £25m -representing modest growth for the company.
The year-end cash balance is expected to be approximately £2.2m.
A stock exchange statement explained that the board has continued to monitor the impact of the Omicron variant on the supply chain and remains cautious about balancing marketing activity and stock availability in the near term, in order to continue managing customer service levels.
Following the company's September update, the board decided to reduce investment in marketing to focus on its customers.
Marketing spend was cut by around a third in the second half of this year, compared to the first half, while stock availability was significantly constrained, resulting in approximately 20% lower order numbers - and therefore revenue in second half compared to the first half.
The lower stock levels impacted average order values for much of the second half, however the note said the company has been recovering in recent weeks as stock availability improves.
Half of the product range has been relaunched, with new recipes and new dishes added, extending the range by 20% and supporting recent higher average order values.
Parsley Box intends to raise further funding during the first quarter next year. Certain members of the board, together with their associates, have indicated their intention to invest.
Dorren commented: "The supply chain issues, widely felt across the food sector, need hour-by-hour focus and Simon's appointment will allow us to continue providing excellent service to our existing customers, without delaying our longer term plans to deliver a platform for independent living.
"I am looking forward to announcing the investment plan in the new year to outline the next steps in Parsley Box's development."
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