Chief executive Favell leaves
Wyevale has revealed a number of key boardroom changes following the successful completion of WCC Hortis's acquisition of the garden centre group earlier today.

Among the key movements, Jim Hodkinson will effectively rejoin as chairman of the board, Gary Favell is stepping down as group chief executive officer and Steve Murfin will cease to be finance director after 20 years at the company.

Barry Stevenson will replace Favell as chief executive. Stevenson has been a director at Marks & Spencer, Woolworths and B&Q. Tony Jones, formerly Camelot finance and operations director has been appointed interim finance director, pending the recruitment of a permanent finance director. Former director B&Q Andrew Livingston will continue in his role as commercial director.

The group also confirmed the resignations of Robert Ware, Brent Wilkinson and Justin Dowley.

All appointments and resignations are with immediate effect. Favell is understood to be in talks with one of the private equity consortia bidding for MFI retail

The group announced today that the High Court had approved the scheme of arrangement agreed by shareholders and said the acquisition was now 'unconditional in all respects'.

Wyevale's board recommended the£310 million takeover bid from a consortium led by Tom Hunter's WCC Hortis and backed by Icelandic private equity firm Baugur in April.

WCC Hortis said it will to continue to run the company as a garden centre business and plans to invest in the group to maintain Wyevale's position in the UK garden centre market.

Hunter said: 'Now the hard work starts and I'm delighted that Hodkinson will be leading the work as chairman. As we have always maintained the business requires serious attention and investment, that it will now gain under his guidance.'