Moss Bros group finance director Michael Hitchcock will step down from the formal menswear retailer, it said today.

Hitchcock will leave the business on April 30 “to seek new corporate challenges”.

The retailer said that since Hitchcock joined the group in 2006 he has provided financial stability for the business through particularly challenging times including a formal bid for the business and the retail downturn.

Moss Bros said it has appointed a firm of recruitment consultants to help find a new group finance director and Hitchcock will help the firm with the recruitment process.

Moss Bros chief executive Brian Brick said: “I am personally grateful to Michael for the help and assistance given to me in my first year and on behalf of the board would like to wish Michael every success in his future career.”