Symbol group Costcutter has appointed Nick Ivel as managing director.
Ivel, who has been Costcutter's finance and IT director for the past seven years, replaces Costcutter founder Colin Graves who becomes executive chairman.
Ivel, who will also keep his IT and finance responsibilities, said: "Costcutter has developed its IT systems over the past few years with our finance function central to this. The fully integrated systems, along with the finance team, will ensure that my involvement will be minimal, leaving me ample time to concentrate on running the business."
He added that in his new role he would work alongside Graves to develop the business strategically and continue the growth of the company.
Graves added: "Nick's solid determination to move the group forward is simply demonstrated by the company's impressive results over the recent years."