\r\n\r\nMatalan has announced that its founder, John Hargreaves, will return to the company as chairman, effective immediately.\r\n\r\nIn this role, Hargreaves replaces Steve Johnson, the Matalan\u2019s executive chair, who is stepping down from the board.\r\n\r\nJohnson first joined the business as non-executive chair, and he agreed to step into an executive role to help guide the company through the pandemic.\r\n\r\nHargreaves said: \u201cI would like to personally go on record and thank Steve for all his invaluable leadership and contribution over the last two years.\r\n\r\n\u201cMy belief in, passion for, and commitment to our business is stronger than ever and I look forward to maximising our growth potential, along with the senior leadership team, delivering true omnichannel value for our customers. On behalf of the board, I would like to wish Steve all the very best with his future endeavours.\u201d\r\n\r\nJohnson added: \u201cIt has been a pleasure to lead and work with all the colleagues at Matalan over these last two extraordinary years. Matalan\u2019s great value proposition is well positioned to prosper over the coming years. I wish everyone in the business every success in the future.\u201d\r\n\r\nThe news comes as Hargreaves lost a court battle with HMRC in February as he attempted to avoid a tax bill of up to \u00a3135m. He was ordered to pay the tax bill after the Upper Tier Tribunal ruled he owes Capital Gains Tax in relation to the \u00a3231m disposal of his Matalan shares back in 2000.\r\n\r\nThe tax dispute was ongoing for almost 20 years, and Hargreaves argued that he did not owe HMRC as, at the time of the sale, he did not consider himself a UK resident as he was living in Monaco.