French furniture retailer Maisons du Monde has confirmed the appointment of Sir Ian Cheshire as a non-executive vice president with immediate effect.
Sir Ian Cheshire is currently the chairman of department store chain Debenhams where he replaced Nigel Northridge in the role on 7 April 2016.
The news follows the recent initial public offering (IPO) from Maisons du Monde, which went live on 27 May 2016. The company set an admission price at €17 per share, with the response said to be positive.
As part of the planned IPO, the company said it would issue approximately €160m of new shares and around €165m to €225m of shares to be sold by the present owners, with plans to sell over 40% of its total shares, potentially generating between €375m and €440m.
Gilles Petit, chairman and CEO of Maisons du Monde, commented: “We are delighted with the success of our listing. Investor interest is a sign of confidence in Maisons du Monde’s unique model and growth strategy.”