Bestway founder Sir Anwar Pervez has stepped down as managing director, but will remain chairman of the group.
Sir Anwar opened his first convenience food store in 1962 and by the early 1970s was operating 10 outlets.
In 1976 he decided to move into the cash and carry sector and since then has built Bestway into a firm with annual sales of £678m and last year saw net profit rise by 20.4% to £8.1m.
He was knighted in 2002 for services to food retail and the wholesale sector and charitable services.
Zameer Choudrey, former Bestway CEO, has been appointed group managing director for the UK and Pakistan business, while former trading director Yonus Sheik has been appointed managing director of the group’s cash and carry business.
Sir Anwar’s son Dawood, an Oxford graduate and solicitor, has been appointed to the board of directors and will be taking on the role of company secretary as well as becoming director of the legal, human resources, training and development, property and health, safety and environment departments.