Debenhams said to be in talks with former Kingfisher CEO to replace chairman

Troubled department store group Debenhams is said to be in talks with the former boss at Kingfisher, Sir Ian Cheshire, to replace current chairman Nigel Northridge in what would be the latest boardroom shake up for the group.

According to reports from the Sunday Times, Debenhams has been under pressure from its shareholders in regards to its weak performance. Sir Ian Cheshire, who left his role as chief executive at Kingfisher a year ago, previously stated that he would prefer to take on another executive chief role over chairmanship, although sources claim that no agreements have been made yet with Cheshire.

However, media reports speculate that an announcement regarding Northridge's departure from Debenhams could be as soon as January 14, 2016, which is when the group is set to hold it annual general meeting. The news comes as Debenhams current chief executive officer, Michael Sharp is set to exit the company this year and a replacement has yet to be announced, suggesting that Cheshire may be appointed executive, rather than non-executive chairman.

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