Majestic Wine chief Tim How is to step down from his post, making way for his deputy Steve Lewis to take over the reins.

How has been chief executive for the past 19 years and is to retire, aged 57. Lewis, who has been chief operating officer for the past two years, joined Majestic in 1985 as a graduate trainee manager. He became retail director in 1991 and was appointed to the board in 1998.

Majestic chairman Simon Burke said: “Tim How has led Majestic from a small loss-making chain to the most successful independent wine retailer in Britain. Along the way, he has created tremendous value for shareholders, acquired a loyal and dedicated customer following and built a highly professional retail and management team.

“Meanwhile, the board is delighted that Steve Lewis, Tim’s long-standing deputy and someone who has dedicated many years to building the Majestic business, has agreed to become chief executive upon Tim’s retirement. Steve will be appointed after an appropriate handover period. We look forward to working with him to continue the Majestic success story.”