Habitat hires new chief executive

Habitat, the furniture chain, has hired the former marketing director of electricals retailer Best Buy as its new chief executive.

Kevin Styles said there is "huge potential" to turn Habitat, which has 71 stores in the UK, France, Germany and Spain, into a "global business".

Founded by Sir Terence Conran in 1964, Habitat was heavily loss-making before it was bought by the restructuring specialist Hilco in December 2009 from Ikano, the investment fund of the Kamprad family in 2009.

Under Hilco, Habitat has trimmed its cost base and now operates websites in UK, France and Germany. Mr Styles said. "It is now time to focus Habitat on regaining its rightful place at the heart of the modern home."