Gousto taps City bigwig Garrett-Cox as chair ahead of stock market float
Recipe box firm Gousto has tapped one of Britain’s most prominent businesswomen as its next chair as it gears up for a potential stock market float.
The meal kit company, which was founded in 2012, has agreed the appointment of Katherine Garrett-Cox to lead the company through a listing.
The appointment is expected to be announced as early as this month.
Garrett-Cox is one of the best known names in the City, rising to prominence during her time as chief executive of financial services firm Alliance Trust. She was ousted from the company in 2015 following a row with activist investor Elliott Advisors.
The executive is now chief executive of Gulf International Bank (GIB) Asset Management. She also served on Deutsche Bank’s advisory board and was a member of the prime minister’s business advisory group.
A source close to Gousto told City PM Garrett-Cox’s appointment reflected the company’s commitment to sustainability, which it has previously cited as one of three trends driving growth.
In addition to her work at GIB Asset Management, which styles itself as a sustainable investment boutique, Garrett-Cox was previously also a member of the Executive Committee for the World Business Council for Sustainable Development.
The appointment comes amid rapid growth at Gousto, which has cashed in on surging demand during the pandemic.
The company, which was granted unicorn status after a £25m funding round in November, last month said it was doubling its workforce next year after sales more than doubled.
Gousto last year delivered record sales of £189m and turned a profit for the first time.
Details of an initial public offering have not been confirmed, but the company had hired bankers at Rothschild to work on a float, according to a Sky News report.
Gousto, which is backed by lockdown fitness favourite Joe Wicks, has raised cash from investors including Perwyn and the ventures arm of Unilever.
Garrett-Cox will replace David Giampaolo, founder of London-based investor club Pi Capital, as chair.
Gousto declined to comment.