Ian Peacock will step down this year
MFI chairman Ian Peacock has announced he will retire from the furniture retailer's board this year. He has been a non-executive director at the group for six years.

His replacement is likely to be a non-executive director appointed from outside the company. Peacock will be seeking reappointment as chairman at the retailer's AGM on May 19, but will step down at some point in the coming year.

In the same statement, it was confirmed that Paul Cheng will resign from his directorship at the AGM. Cheng joined the MFI board in August last year and cited increasing commitments in Hong Kong as his reason for leaving.

Meanwhile, Bob Wilson, who is largely responsible for directing the group's manufacturing and investment programme, will retire on April 5 after 29 years at the retailer.

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