Dublin department store Arnotts has appointed the former Brown Thomas boss Nigel Blow as chief executive.

Nigel Blow, who has been consulting for Arnotts for several months, will replace current chief executive David Riddiford, who will leave the business this week after three years at the helm.

Arnotts said in a statement that Riddiford had decided to step down from his position earlier this year after the department store suspended plans to develop the property and land it owned around the Northern Quarter of the city.

Arnotts chairman Mark Schwarz said: “We are pleased that discussions around the chief executive role at Arnotts are now concluded. David Riddiford has made significant contribution to Arnotts during his tenure.”

He added: “We are delighted to have an executive of Nigel’s calibre join the team in a permanent capacity. He has an enviable track record of developing brands and growing retailers. Nigel also already is familiar with the stores, our vendors and concessions, and our valued customers. I am confident that he will have an immediate impact in his new role and look forward to working together as we grow this business.”

Both Schwarz and Blow were brought in to Arnotts by its banks Anglo Irish and Ulster in March after its debts spiralled out of control. The business has since been refinanced.

Blow said: “It is great to be taking on a new chief executive role in Dublin. I have been working in this market for over three years and have a good understanding of the merchandise and retail experience our customers desire. I look forward to working with my talented colleagues throughout the store and our partners to ensure that we uphold Arnotts’ position as the preeminent retailer in Ireland.”