HMV has named a new chief executive after the boss credited with keeping the music chain afloat announced plans to step down after six years in the role.
Simon Fox will be replaced next month by Trevor Moore, who until recently was chief executive of camera retailer Jessops and has also worked for HSBC and Whitbread.
Much of Mr Fox's reign has seen HMV locked in a battle for survival as it tackled high debts and a declining market.
It made a key breakthrough earlier this year when it secured a refinancing deal with banks and better terms with key suppliers.
Mr Fox said: "I am proud to be leaving HMV with a profitable future secured."
HMV has focused on its specialist ranges of music and DVDs and growing sales in portable technology and online and digital offers.
The chain has felt the pressure of the consumer spending squeeze as cash-strapped customers turn to cheaper deals on the internet for music and film.
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