Baird Group chairman and chief executive Peter Lucas is to stand down from the menswear specialist.

Lucas, who is also chairman of fashion trade body UKFT, is staying on as non-executive director of the firm.

Lucas has been with the retailer since he was appointed managing director of William Baird menswear operations in 1989. He became a member of its board in 1995 and led a management buyout of its menswear divisions in 2000. He owns 20% of the business.

Current managing director Mark Cotter is tipped to take over the chief executive role.

Baird Group is both a wholesaler and retailer. It runs concessions in retailers including Selfridges, House of Fraser and Debenhams as well as its own stores for brands including Jeff Banks, Racing Green and