Former Sun European partner Frank Maassen named But boss

Maassen, who has experience in developing ecommerce and retail operations, has worked across the electricals, homewares and furniture sectors in a number of positions, including at furniture specialists ScS and Sharps bedrooms. He replaces Regis Schultz who has left to become Darty chief executive.

Since its acquisition in 2008 by a group of investors including OpCapita, Goldman Sachs and Colony Capital, But has invested in its supply chain and product offer, resulting in an increase in furniture market share from 9.2% in 2008 to 10.7% in 2012.

The retailer has increased sales and profits over the last three years, with revenue rising from around €925m to €1.15bn in 2012.

Before joining Sun European Partners, Maassen worked for industrial equipment firm Hunnebeck Group and was chief executive of Hunnebeck France.

Maassen said: “But has a well appreciated brand, significant franchise and a great team. I am very excited to work with this team to further develop But to its full potential.”

John von Spreckelsen, head of But’s supervisory board and former Thorntons chairman, said: “Given his operating, retail and online expertise, we are very happy to welcome Frank Maassen to lead But at a time of interesting change in the retail industry.”