Financial services company, Thorn Group, has announced its MD, John Hughes, will delay his retirement until the end of June in order to assist transition.

On his retirement, Hughes will start a 12 month consulting role with the intention to join the board again as a non-executive director in 2015.

The board is currently searching for a replacement for Hughes, which also includes internal candidates and has appointed recruitment firm, Korn Ferry, to this assignment.

“We are very pleased that John will continue to play a part in Thorn’s future and provide valuable input and support,” David Carter, Thorn chairperson, said.

Thorn will release its full year results for the financial year ending  March 31, 2014 on May 20, 2o14.