David Jones, deputy chairman of Next, has announced his retirement after 20 years with the retail chain. He does not, however, have any intention of stepping down as deputy chairman of supermarket group Wm Morrison. He told the FT that his decision to retire from Next has nothing to do with his fight with Parkinson's disease, which he has been suffering from for the past 23 years. John Barton, the current deputy chairman, will replace him.

"It is fair to say my illness is getting more difficult to handle but that is not why I have made my decision to step down," he said. "I am feeling totally relaxed about it because life has moved on. I am a great believer that no one should run anything for more than 10 years, you should know when to go." Jones was chief executive of Next for 13 years before becoming deputy chairman in 2001. The current chief executive, Simon Wolfson, said Jones would be missed, but "typically of him, he has planned his own succession immaculately."