Tom Hunter has scotched reports that he will oust Selfridges chief executive Peter Williams if his bid to take the department store business private succeeds.
Hunter said: 'The management team has done a good job and I would look forward to seeing how to make it a better business with them involved.'
As Retail Week went to press the Selfridges board was considering bids following Tuesday's deadline, imposed by Merrill Lynch, and was expected to announce by today how it will proceed.
Williams and Hunter were thought to be the only parties to have tabled fully funded offers, although talk of a sale originally prompted interest from a variety of potential buyers.
Williams' management buy-out bid, backed by US equity firm Blackstone, was up against a revised offer from Scottish retail tycoon Hunter.