Ocados shares have traded lower than offer price since listing

Ocado's shares have traded lower than offer price since listing

UK online retailer Ocado, which last week launched an IPO of the business, has created the role of marketing director.

Matthew Knight has become head of marketing, insight and communications at Ocado and will report to head of retail Jon Rudoe.

Knight joined Ocado earlier this year as a consultant after spending seven years at Nectar, Sainsbury's loyalty card scheme.

Ocado's shares, which listed at 180p but tumbled on the first day of trading last week, were up 2% at 166p at 16:53 BST this afternoon.