John Lewis of Hungerford names new chairman
The company said McNaught had decided not to put himself forward for reappointment as chairman at the next AGM due to the time commitment he considered the role required.
With over 15 years’ public company experience, O'Brien has worked with companies such as Allied Lyons, Granada Group and Black & Decker.
He joined Max Factor in 1982 as deputy managing director and finance director then moved on to join the board of the Burton Group in 1986. This was followed by a stint as group finance director at Signet Group.
More recently, he has been working with smaller businesses and has been involved in a management and advisory capacity within corporate finance, telecommunication, IT and financial services marketing businesses.
John Lewis, founder and non-executive director of John Lewis Hungerford, said: "We are sorry to see Ken leave the Company and I would personally like to thank him for the contribution he has made in the period he has been with us.
"We are however pleased to be able to announce his replacement Gary O'Brien who has a strong finance background but also a wealth of experience in consumer goods and high street retailing in some of the UK's most recognised and successful businesses."
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