Department store chain Debenhams has hired former John Lewis strategy chief Rachel Osborne as chief financial officer, replacing Matt Smith, whose planned departure was announced earlier this year.

Ms Osborne joins most recently from Domino's Pizza Group, where she was also CFO, and will take up the role from September 17. Her background is rich in retail experience.

Aside from her four years as finance and strategy director at John Lewis, Ms Osborne also has knowledge of the home market from Dunelm, where she has been a non-executive director since the spring.

"Her commercial expertise will be invaluable as we build a strong financial foundation to underpin the transformation of Debenhams," said CEO Sergio Bucher.

Ms Osborne was also director of business performance at Kingfisher and B&Q for a brief period soon after the turn of the century.

She said: "This is a challenging time for UK retail but Debenhams has a strong heritage, leading market positions and a credible plan for its future."