A BOSS at Bolton based AO World has revealed he will step down from his role.

Richard Rose, a non-executive chairman at the Middlebrook based company, has announced he will step down from the board after spending eight years at the electrical retailer.

He has said he will leave when a candidate to replace him has been decided.

The firm has said it expects to announce the identity of that person by July, when AO World holds its annual general meeting.

The company's senior independent director, Brian McBride, will lead the nominations committee process to find a replacement.

Mr Rose sold the majority of his stake in the company in March last year, weeks after the firm issued a profit warning.

The sale of his 89 per cent of shares in the company raised £10 million, leaving him with a stake of 0.17 per cent.

Mr Rose first captured the attention of the business world as chief executive of electricals wholesaler WF Electrical, where in his seven years in charge its share price rose from £1.50 to £8.50 before it was sold off.

He has also been involved with cash and carry giant Booker and menswear retailer Blue Inc.

AO World, which was set up as Appliances Online in 2000 by John Roberts, is currently expanding into Europe.

Mr Rose said: "I feel very fortunate to have been a part of the AO growth story over the past eight years and to have worked with an outstanding team of people.

"I am confident that through them, the company and its culture will continue to flourish and AO will continue to delight customers with its dedication to exceptional service.

"The long-term strategy we set out at the time of our IPO is firmly on track and I feel now is the right time for me to move on."

John Roberts, chief executive of AO World, added: "We would like to thank Richard for his excellent contribution to the company over the years, not least in leading the Board through our IPO in March 2014 and our expansion into new categories and countries.

"I would like to personally thank him for his support and counsel."