A former chief executive of Asda has been appointed as the non-executive chairman of online mattress retailer Simba after he made a £1 million investment.
Allan Leighton, who is also chairman of The Co-operative Group, joins entrepreneur Nigel Wray and advertising heavyweight Sir John Hegarty as investors, as well as institutional backers Henderson Global Investors and Numis Securities.
Chief executive Steve Reid said: “Securing Allan to the board is a significant coup for Simba.
“A world class retail veteran, there is no one better placed to fuel our next exciting phase of growth.”
The news comes after Simba’s rival Eve Sleep retreated from a number of European markets to concentrate on UK and French markets after it recently issued a profit warning.