The new CEO at one of the UK's biggest department stores is an ex-Amazon chief

British retail giant Debenhams has appointed Sergio Bucher - the vice president of fashion at Amazon - as its new CEO.

Debenhams' current CEO Michael Sharp announced that he was leaving last October, following pressure from high-profile investors.

The company issued a profit warning two years ago and their last annual report revealed an underlying sales increase of only 0.6%.

It'll be hoping Bucher turns its fortunes around.

Bucher joined Amazon in 2013 and oversaw a slow domination of the UK clothing market. Respondents to a recent UBS survey said the online retailer was their second most used outlet in the last six months.

Amazon sells clothing from third parties but in February it launched its own fashion range.

Debenhams chairman Sir Ian Cheshire said Bucher's experience made him the right man for the job:

I am delighted to announce the appointment of Sergio Bucher as the next Chief Executive of Debenhams. Following a rigorous recruitment process with some exceptional quality candidates, Sergio's wealth of e-commerce expertise, international experience and clear leadership qualities stood out. I am confident we have the best possible person to realise the potential of 'new Debenhams' as a leading international multi-channel retailer with a bright future.

Debenhams share price rose 1.7% on the news this morning as of 8.30 a.m. BST: