Online retail giant The Hut Group is reportedly set to announce a number of senior board changes this week.

According to Sky News, founder and CEO Matthew Moulding will become executive chairman after taking over from Richard Pennycook, the former Co-op Group boss who has been on The Hut Group's board for six years.

Rachel Horsefield, CEO of Beauty, will join the board as an executive director; and Zillah Byng-Thorne, CEO of media group Future, will become a board member and chair the audit committee.

As part of the changes, UK dealmaker Dominic Murphy is expected to become the company's senior independent director as part of the changes.

/images/comms/news/businesscloud/photos/17-09-2018/thg.jpg

Manchester-headquartered The Hut Group was established by Moulding and John Gallemore in 2004 and has grown to employ a global workforce of more than 4,000 people.

In May, the technology company published its annual results for 2017, revealing group sales of £736 million and gross profits of £318 million.

Two months ago it announced plans to develop new headquarters (pictured above) totalling nearly a million square feet near Manchester Airport.

The "landmark" business campus will support up to 10,000 jobs and has been hailed as the largest development ever by a North West company and the UK's largest bespoke office development outside London.

More to follow.