Mike George plans to step down as CEO of Qurate Retail Group, the parent company of West Chester-based QVC and HSN, at the end of next year, writes Ryan Sharrow for the Philadelphia Business Journal.

The retail giant announced that George’s contract has been extended for one more year, after which he will retire.

George, who is based out of West Chester, joined QVC in 2005. He was appointed CEO of Quarte two years ago.

A successor for the position is yet to be named, but the company said there was plenty of time for transition planning, as well as a search process.

“We have strong internal candidates and will also consider external candidates to find the best leader to drive our future and further build upon Qurate Retail’s strong performance trajectory,” said Executive Chairman Greg Maffei.

Leslie Ferraro, who joined Qurate in September 2019 in the newly created role of president of QxH, is a potential candidate. She previously served as co-chair of Disney Consumer Products and Interactive Media and as president of Disney Consumer Products.

Read more about Mike George in the Philadelphia Business Journal here.

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