Don McCarthy may exit HoF as early as July

Don McCarthy, chairman of House of Fraser who revealed earlier this week that he will be leaving his current role

once HoF's sale to Sanpower Group is done, may be leaving the department store chain as soon as July.

He is set to stay with the company until completion of the deal with Sanpower Group, which is predicted to be finalized within the next four months, but according to Drapers, is more likely to be completed in two.

McCarthy has held his position at HoF since the Highland Consortium took over the department store chain in 2006, and currently owns 20 percent of the company. He has yet to reveal any future plans after his exit from HoF.

All other members of the management team will remain with the company after the deal is completed, whilst HoF continues its search for a successor for its former executive director Allan Winstanley.