Harrods hires IT director from Bally Shoes

Luxury department store Harrods has appointed Massimo Franzese to replace John Granville, the IT director who resigned from the board after just 18 months in the post.

Franzese, who joins Harrods from Bally Shoes, will be charged with improving the store's stock management infrastructure, as well as the technical side of online venture harrods.com.

A spokesman said that Granville's contract had been terminated by mutual agreement and Franzese's arrival did not signal a 'great change in direction' for the retailer.

Granville was the latest in a line of high-profile departures from the legendary Knightsbridge store, which is owned by tycoon Mohamed Al Fayed.

Al Fayed has waved goodbye to 15 executives in the past two years and has yet to find a successor to Max Rigelman, who quit as chief executive in April after less than two months. Group finance director Steve Davie is acting managing director, at present.

Last month, Al Fayed announced 'with a heavy heart' that he would quit the UK for Switzerland after the Inland Revenue withdrew a tax break that saved him up to£20 million a year.

The Egyptian entrepreneur can only spend 90 days a year in the UK, before becoming liable for income tax.