Smythson chief executive Paddy Byng is to step down from the upmarket stationers and leather goods retailer at the end of the month.

The retailer, which also employs the Prime Minister’s wife Samantha Cameron, has hired Jacques Bahbout, the chairman of Italian leather manufacturer Tivoli, which bought the business in December for around £18m.

Bahbout takes on the roles of chief executive and chairman.

Smythson said during Byng’s time at the retailer the brand has become “further recognised as one of the strongest luxury gift brands in the U.K”, adding he leaves the business with a “strong platform for further domestic and international expansion”.

Smythson operates 12 stores in the UK.

Cameron this month signalled her intention to reduce her role at Smythson. She was previously creative director but will now work two days a week as a consultant.