Favell (pictured) has formally taken control after MFI shareholders approved the sale of the retail arm to Merchant Equity.
He said: 'We've got to be first to market. When you think about product, MFI has been a follower. My objective is to make it a leader.' He will also mount a concerted push into the fitted bathroom market, following a six-store trial that will take place after the January Sale.
Other hirings include former Kwik-Fit finance director Kenneth McGill, who joins MFI in the same role, ex-Polestar Group chairman Christopher Pavlovsky as chief operating officer and ex-Magnet human resources director Marc Bertrand, who will head HR for MFI.