Mark Fenwick will step down from his role of non-executive chairman of department store group Fenwick later this year and will be replaced by former Co-Op chief executive Richard Pennycook.
Fenwick, the fifth-generation chair, will leave at Fenwick’s annual general meeting on 18 May. Pennycook will join the firm on the same date.
Fenwick will remain senior advisor to the board, particularly in relation to property, development and asset management across the group.
He said: “The business and the family welcome Richard’s appointment and we look forward to working closely with him to drive Fenwick’s ambitious growth plans.”
Pennycook added: “I have always admired the company and I am excited about the opportunity to work with the Fenwick family and team to realise the future vision and growth plans for the business.”