Carpetright has announced changes to its board, with Lord Harris of Peckham stepping down as executive chairman and Wilf Walsh joining as chief executive.
Mr Walsh has 20 years experience in the retail industry and most recently has been chairman of Fortuna Entertainment Group.
Lord Harris will become non-executive chairman from July 21 and will retire from the board at the company's AGM on September 4.
Lord Harris said: "I will be 72 this year and shareholders will be aware that I have been planning a managed hand-over of my responsibilities for some time.
"I am delighted that Wilf Walsh has agreed to join Carpetright as chief executive. He has strong retail and online credentials and a successful track record in managing multi-site consumer-facing business. I am confident that I will be leaving the business in safe hands."
Mr Walsh added: "Carpetright is a great brand and I am looking forward to working with the team to drive profitability and share going forward.
"Lord Harris has 56 years in the carpet business and will be a hard act to follow but the market-leading position he has built for the business is an excellent place from which to start."
The search is currently on to find a new chairman. If one is not found by September 4 Baroness Noakes, currently deputy chairman, will step in as interim chairman.
Other management changes include the stepping down of Martin Harris as group development director from September 4 and Graham Harris leaving the post of chief operating officer.