Lobby group wants chief executive and chairmanship separated
Carpetright chairman and chief executive Lord Harris is under fire from an investor lobby group for his apparent unwillingness to relinquish one of his roles.

The Pensions Investment Research Consultants is urging shareholders to oppose his reappointment at the retailer's annual general meeting next Tuesday unless he agrees to separate the two roles.

Harris is understood to have said he is not against the idea so long as the right person is in place before it happens.

Carpetright revealed it increased pre-tax profit by 8 per cent for the year to April 30, delivering a boost to the troubled flooring retail sector. Underlying pre-tax profit, which excludes gains from disposals of property assets and terminations of business, was down 4.1 per cent to£62.3 million. Underlying operating profit also fell 4.1 per cent to£63.9 million. Total UK sales rose 2.1 per cent to£404.1 million over the period, but like-for-like sales fell 1.3 per cent.