The Peacock Group financial controller Mike Killick will take over as group finance director as the firm invests £30 million in store openings and refurbishments.
Chief executive Richard Kirk told Drapers that the company planned to spend £8.5m on a facelift for its Bonmarche business, including opening 15 stores.
The remaining £21.5m would be invested in the Peacocks chain, with 30 stores opening this year, including a 12,000 sq ft site in Cardiff. Other planned openings include 10,000 sq ft stores in Southampton and the Arndale Centre in Manchester.
Kirk added that Killick, who has been with the company for seven years, would replace Keith Bryant, who left The Peacock Group last month with immediate effect. The move will result in an internal reshuffle at the company.
The group currently has 360 Bonmarche stores and more than 425 Peacocks shops.
The Peacock Group was taken private just over a year ago in a £410m management buyout led by chief executive Richard Kirk.