Liberty finance director Crispin Mardon has left the business to pursue new opportunities.
Mardon will be replaced by financial controller Paul Harris, who will be promoted to the board in mid-May.
Harris has been financial controller of Liberty since joining in 2006. Previously he worked at luxury footwear retailer Kurt Geiger and at Selfridges in financial roles.
Liberty chief executive Geoffroy de La Bourdonnaye said: "We would like to thank Crispin for his effort and contribution over the last three years in moving the business forward. I would like to take this opportunity of welcoming Paul on to the board."
Liberty saw EBITDA losses widen to £3.6m for the year to December 31 2007 because of increased investment in its Liberty of London own brand venture which ran to £3.5m against £2m in 2006. Sales rose 4% over the year to £45.8m.