chairman Richard Rose is to stand down from the electricals etailer once it has found a successor.

Ao said it hopes to hire a new non-executive chairman by July, when it holds its AGM.

Rose said: “The long-term strategy we set out at the time of our IPO is firmly on track and I feel now is the right time for me to move on.”

Ao senior independent director Brian McBride will lead the nominations committee process to appoint Rose’s successor.

Rose added: “I feel very fortunate to have been a part of the Ao growth story over the last eight years and to have worked with an outstanding team of people. I am confident that through them, the company and its culture will continue to flourish and Ao will continue to delight customers with its dedication to exceptional service.”

Ao chief executive John Roberts said: “We would like to thank Richard for his excellent contribution to the company over the years, not least in leading the board through our IPO in March 2014 and our expansion into new categories and countries. I would like to personally thank him for his support and counsel.”