The chairman of Australian grocery wholesaler Metcash is to retire after more than a decade in the role.

Carlos dos Santos announced today (9 July) that he would step down at Metcash's AGM in September.

Metcash deputy chairman Peter Barnes will replace dos Santos and work with CEO Andrew Reitzer to find a new chief executive.

Reitzer announced in February that he would step down from that role in three years time.

Dos Santos said: "It has been a privilege to have been Chairman of the Metcash business for the past twelve years during which the company has been transformed from the struggling wholesaler that it then was into the successful A$12bn (US$10.5bn) business that it now is."

Last week, Metcash announced a deal to buy Australian supermarket chain Franklins from South African retailer Pick n Pay for A$125m.