Former Carpetright chief executive Darren Shapland is to join the board of Poundland ahead of the value retailer’s IPO. 

Shapland will become Poundland’s senior independent director as the retailer aims to go public. Confirmation of a float could come as early as tomorrow, Sky News reported.

Shapland, who is also on the board of Ladbrokes, left Carpetright after a profit warning last autumn after 17 months in post.

Shapland joins Poundland alongside three other new non-executive directors including Mondelez executive Trevor Bond.

Poundland hopes to float to aid its expansion from 450 shops to 1,000 stores.