Roger Whiteside has parted company with the Thresher Group after more than three years as its chief executive.
He will be replaced by Yvonne Rankin, formerly chief executive of global retailer AS Watson.
Whiteside was widely admired in the trade for his work in transforming Thresher's fortunes, but leaves at a time when the future direction of the company is still being debated.
Scott Greenhalgh, managing director of Vision Capital,
which acquired a majority stake in Thresher Group in June , said: "On behalf of the entire management and staff I would like to thank Roger Whiteside for his service to the Thresher Group. Roger has steered the Thresher Group through a period of significant industry change and we thank him for providing a smooth transition to our ownership. We look forward to working with Yvonne Rankin in the next stage of Thresher Group's development."
Alex Anson, Thresher's former trading director who introduced the successful three-for-two promotional policy in partnership with Whiteside, paid tribute to his former boss.
"He was instrumental in taking Thresher through a transition phase that saw it turn around a lot of its fortunes in a very tough marketplace," he said.
"What I liked about Roger was, having all that experience, he was someone who could really work with and help you understand and look at things differently, without taking the quintessential
chief executive position of looking down on the team. He was someone who worked alongside you."
Since joining the Thresher Group in April 2004, Whiteside has overseen the transformation of the business into three clear fascias - Threshers, The Local and Wine Rack. The Local convenience shops were rolled out in 2004 and the Wine Rack fascia was rejuvenated in 2005. He also masterminded the
purchase of 200 shops from Unwins.
Rankin said she was looking forward to "working with the team to strengthen its position as the leading independent specialist drinks retailer in the UK and improving our customers' overall experience".