HMV chief executive Ian Topping is to depart the business later this year after five years at the helm.
He will be replaced by retail director Neil Taylor during a six-month transition period.
Taylor has worked with the business over a 30-year period and according to HMV is “well prepared for the challenge of taking the business forward to the next stage.”
Meanwhile, the retailer has also appointed Patrizia Leighton to the role of marketing director and Rudy Osorio, who has been with the music retailer for 27 years, has been promoted to commercial director.
“Despite the ongoing demands of physical to digital entertainment transitions and a general retail industry move from stores online, the business remains in good shape,” said the retailer.
HMV was acquired by the private equity firm Hilco Capital five years ago.
“We have been pleased with our investment in HMV and the ability of the management team to deliver strong performances against a very challenging market backdrop,” Hilco executive chairman Paul McGowan said.
“We would like to thank Ian Topping for the leading role he has played in implementing this process over the last five years.”
Since its acquistion five years ago, HMV has become a major player in consumer product retail, tapping into the growing demand for pop culture-inspired products across games, apparel, collectables and more.