Argos owner Home Retail Group is likely to appoint the multichannel retailer’s boss John Walden as its new group chief executive.

The promotion would put an end to a four-month search for a replacement to Terry Duddy, the long-serving group chief executive who will step down this year, Sky News reported.

According to insiders, the board’s preferred candidate to take the position is Walden, who joined Argos as managing director nearly two years ago.

His appointment could be revealed as early as this week alongside Home Retail’s Christmas trading update on January 16.

Walden had previously worked at US electrical goods group Best Buy and Sears.