Online shopping giant The Very Group is reportedly in talks for former Chancellor of the Exchequer Nadhim Zahawi to become its chairman. 

Zahawi is still an MP so news of the talks — which were reported by Sky News — suggests he’s preparing to stand down from Parliament by the time of the general election, which will presumably happen at some point this year.

Sky said that he’s not the only candidate for the role at the shopping group that’s owned by the reclusive Barclay family. But he’s seen as “a strong contender” due to his digital business credentials. He’s co-founder of YouGov, the market research and polling company.

The ex-Chancellor already has links with the Barclays given that he’s been an intermediary between the family and Abu Dhabi-based investor IMI Investments, which was interested in being part of a bid for the family’s Telegraph newspaper business. He’d been tipped to chair the business if that bid hadn’t led to speedy legislation banning investors connected to a foreign state from owning UK newspapers.

As for The Very Group, the Barclays have looked at selling it several times in the past decade with a hoped-for valuation of more than £3 billion. However, prospective buyers haven’t met the asking price.

The report of Zahawi’s potential move into Very’s chair came after the group confirmed last month that Dirk Van den Berghe was stepping down from the role after two years. Aidan Barclay is currently interim chair.

The retailer and the politician both declined to comment at the weekend.