Made chairman

Online furniture retailer has announced that its founder and CEO Ning Li is to step down from the role.

Confirming the news to The Telegraph, Ning Li will vacate the position of chief executive from January 2017 after seven years at the helm of the company, with current chief operating officer Philippe Chainieux named as his successor.

It is understood that Philippe will push forward expansion plans over the next few years across Europe and other international locations.

The Telegraph also stated that Ning Li is to remain as an ambassador for but will no longer take control of the day-to-day business as he looks to focus on other opportunities.