Argos md Sara Weller is stepping down from her position "for personal reasons", parent company Home Retail Group (HRG) announced this morning.
The change will take effect from June 2011, with HRG chief executive Terry Duddy taking responsibility for Argos on an interim basis, in addition to his current role, while the board looks for a replacement.

Ms Weller said: "This has been an extremely difficult decision to make but it is absolutely in the best interest of my family and me. I have greatly enjoyed my time with Argos as we have successfully developed our multichannel retailing offer. I will miss being part of the strong team that we have built within the business. I do not intend to take on another full-time executive role, but will be looking to expand my non-executive career for the future."

Argos saw profits plunge by 17.7% for the full year to February 26, according to a trading statement issued by Home Retail Group today.