Johnston joined Polestar in April 2001 as a consultant. Before that he spent six years with Thorn Lighting Group, where he occupied roles including European finance director and group supply chain director.

Chief executive Barry Hibbert said the calibre of applicants had been "extremely high", but that Johnstons financial expertise and dynamic approach had proved decisive.

Polestar ranked at number 47 in the KPMG Top Track 100, which names the 100 unquoted companies with the largest sales in the UK. The groups 535m turnover in 2001 put it above Guardian Media Group.