Ovo poaches Monzo finance chief amid sale talks - report

Household energy supplier Ovo has reportedly poached a senior executive from digital bank Monzo as it explores options that could lead to a change of ownership.

According to Sky News, Ovo has recruited James Davies, who has worked for companies including William Hill and online estate agent Purplebricks, to become its new chief financial officer.

An insider told Sky that Davies' appointment was announced to Ovo staff on Thursday.

It marks the latest phase of a leadership shake-up at the company, which has seen former J Sainsbury boss Justin King take over as chairman and former Just Eat chief executive David Buttress become its chief executive.

Vincent Casey, Davies' predecessor, will become an advisor to Ovo Group's board.

Ovo and some of its shareholders kicked off a strategic review in the summer to consider options for the company. It has about four million household customers, positioning it behind the likes of British Gas owner Centrica and Octopus Energy.

In recent months it has diversified its offer to customers by launching an electric vehicle product called Charge Anytime and the acquisition of an on-street vehicle charging business called BonnetA.

Ovo, which was launched by Stephen Fitzpatrick 15 years ago in a bid to challenge the industry's dominant players, has attracted investment from blue-chip backers such as Japan's Mitsubishi.