Carpetright share price rises as it finally hires a new chairman to replace Lord Harris

 
Emma Haslett
Follow Emma
Lord Harris will finally depart at the beginning of November

Carpetright chairman Lord Harris can finally look forward to slowing down, after Carpetright announced it has appointed a new chairman.

Shares in the retailer rose 1.2 per cent in mid-morning trading as it said Mitchells & Butler non-executive chairman Bob Ivell, who is also a senior independent director at Britvic and Aga, will take over on 1 November, two months later than Harris had originally planned to step down.

The retailer has been searching for someone new to lead its board since May, when Harris announced his departure after 26 years in the role. But in June, he delayed the move.

Carpetright presumably hopes Ivell's arrival will mark a new era for the company, which in June announced losses before tax of £7.2m for 2013, while like-for-like revenues edged down 0.2 per cent.

In a statement this morning, Lord Harris said he was "delighted".

After 57 years in the carpet business, it is time for me to focus on my other interests and I retire from the board confident that I leave behind a strong leadership team.

Related articles