Pacific Brands has found a new chairman to take the reins of the beleaguered clothing maker as shareholders wait in hope for a fresh takeover offer.

Nine Entertainment Co’s chairman Peter Bush will step into the job on June 30, replacing James MacKenzie who will become a non-executive director.

Mr MacKenzie had been in the chairman’s job for four years.

“Mr MacKenzie will manage an orderly handover of his chairman’s duties to Peter Bush and will continue with his other non-executive roles outside Pacific Brands,” the company said in a statement on Thursday.

Mr Bush, a former chief executive of fast food chain McDonald’s Australia, has sat on the Pacific board since August 2010.

As well as holding the chairman’s role at Nine, he is a non-executive director of Insurance Australia Group.

The change at the top comes two weeks after Pacific revealed takeover talks with potential suitors had failed to reach a deal.

The sleepwear, clothing and apparel maker, whose brands include Bonds and Rio, has been struggling in the difficult retail environment.

It suffered a first half net loss of $362.4 million and expects full year earnings before interest and tax and before significant items to be between $125 million and $130 million.

Shares in Pacific Brands closed half a cent higher at 55.5 cents despite falls on the broader market on Thursday.

One analyst said investors were more focused on any updates about a potential takeover of the company, rather than changes at the top.

“Pacific Brands is very much going to be a story about who is going to put their hand up and have a tilt at this business, not necessarily who is running it or what its earnings profile is,” the analyst, who did not want to be named, said.