Carpetright CEO steps down as profits drop

Darren Shapland, CEO of the UK's largest floorings retailer Carpetright has stepped down, and will be replaced by chairman and founder of the company Philip Harris.

Shapland is standing down after 17 months in the job and initiating an overhaul of the of the company's products and digital marketing strategy. The company expects profits this year to be "significantly below" its previous forecasts, citing a softer UK market and poor sales in the Netherlands.

Carpetright which has close to 500 stores across the UK, reported on Friday that sales were down 2.5 per cent in the UK and 7.6 per cent in Europe, over the 10 weeks to the end of September.

Founder and chairman, Lord Harris said in statement:

I am disappointed that Darren Shapland, who has made a significant contribution to Carpetright over the last 17 months, is leaving the business, but he does so with our thanks and we wish him well for the future.