He added Mr Bucher was the "best person" to take Debenhams forward. Mr Bucher, 52, will join on an initial pay package worth up to £3.8 million, including a £700,000 annual salary, an annual bonus worth a possible £1.05 million and long-term incentive shares worth up to £1.4 million. The pay deal also includes up to £30,000 to relocate from Luxembourg and a £5,000-a-month housing allowance for the first two years, while he will get a £445,184 payment in lieu of shares he would have been paid at Amazon. His appointment ends a seven-month hunt for a successor to Mr Sharp after he announced plans to leave last October, ending speculation over his role at the group amid shareholder pressure for a boardroom shake-up. Mr Sharp, who became chief executive in September 2011, insisted he had always intended to leave after a five-year term.