Tim How, CEO of wine warehouse chain Majestic Wine, is to retire within the next year.

How, who has been CEO of Majestic Wine for the past 19 years, will be replaced by Steve Lewis.

Lewis is currently chief operating officer and has worked at the retailer since 1985 when he joined as a graduate trainee manager. He became retail director in 1991 and was appointed to the board of directors in 1998.

“Tim How led Majestic from a small loss-making chain to the most successful independent wine retailer in Britain,” said chairman Simon Burke.

“Along the way he has created tremendous value for shareholders, acquired a loyal and dedicated customer following, and built a highly professional retail and management team,” he added.