Published on January 21st, 2018 | by The GC Team0
Dixons Carphone chief quits
Dixons Carphone, Britain’s biggest electrical retail chain, said late on Friday (19th January) that CEO Sebastian James has resigned, just a few weeks after the departure of the retailer’s finance director Humphrey Singer.
Mr James, who joined Dixons Retail in 2008, became Chief Executive in 2012 and retailed the role following the merger with Carphone Warehouse in 2014, is leaving to take up positions as senior vice president of Boots Alliance and president and managing director of Boots.
He will be replaced by Alex Baldock, group chief executive of online retailer Shop Direct, who announced in October 2017 that he was leaving.
It appears that the moves had been planned for some time, but Dixons Carphone was rushed into an announcement following a report on Sky News on Friday evening. The retailer is due to report on its Christmas trading performance next Tuesday (23rd January.)
Mr James said: “It has been an enormous privilege to lead this business and to work with such passionate and committed colleagues over the last few years. Together, I think that we can be very proud of the profound transformation that we have seen in Dixons Carphone and the sound footing, customer affection, and place in the world that it now enjoys.”
In December, (see this website 13th December 2017), Dixons Carphone reported profit before tax fell to £61m for the 26 weeks ended 28th October 2017, down from £154m in the same period in the previous year. The company issued two profit warnings last year, and its shares have fallen more than 40% in the last 12 months, and there had reportedly been warnings from investors that the board should be considering succession planning at senior levels.