Lord Grabiner is stepping down as non-executive chairman of Taveta Investments, the parent company of Arcadia Group, and will be succeeded by West Ham United vice-chairman Karren Brady.
Brady will take up the role with immediate effect. She joined the board as a non-executive director in September 2010.
Arcadia owner Sir Philip Green said: “On behalf of the Taveta board, I would like to thank Lord Grabiner for his 15 years’ service and to wish him well for the future.”
Brady said: “It is a privilege to have been invited to chair the board and I look forward to working with my colleagues as we concentrate on driving the Arcadia brands forward on their global expansion.”
Arcadia employs more 24,000 staff. Its brands are Topshop, Topman, Wallis, Miss Selfridge, Dorothy Perkins, Evans, Burton and Outfit.