UK value fashion chain New Look has appointed former Matalan boss Alistair McGeorge as executive chairman of the group with effect from 3 May.

Tom Singh, the founder of New Look, who has been acting as interim executive chairman, will continue to work in an "operational capacity focused on product" alongside McGeorge.

The appointment follows growing speculation as reported by just-style earlier in the month.

New Look last month said its chief executive Carl McPhail and non-executive chairman John Gildersleeve were stepping down.

“We are delighted that Alistair will be joining New Look," Singh said. "With his strong background in value retailing he brings the strategic, leadership and operational skills the group needs to help it move to the next stage of its development.

"Alistair joins a dynamic top team which he will head as we work to reinforce New Look’s position as a driving force in fashion both in the UK and internationally.”

McGeorge was most recently chief executive of Matalan, a post he held for almost four years until November 2010. Prior to this he worked in a variety of roles for Littlewoods/Shop Direct, latterly as CEO.