𝓤𝓷𝓲𝓽𝓮𝓭 𝓝𝓮𝔀𝓼

Currys chief executive Alex Baldock is to step down after eight years at the helm of the electricals chain to take on a new role outside the group, the firm has announced.

Mr Baldock said he plans to move on to a “new opportunity” away from Currys, but did not reveal details of his new job.

The firm will kick off the hunt for his successor, but confirmed Mr Baldock will remain in the role during the search to “drive business performance and ensuring a smooth and orderly transition”.

Mr Baldock said his eight-year stint at the firm had been “simply the best of my career”.

He added: “Currys’ next chapter can be its most exciting yet.

“But it’s time for someone else to steer the business there, and time for me to move on to a new opportunity.

“I’ll be here to ensure our progress doesn’t skip a beat and to ensure a smooth transition to my successor.”

The group confirmed it remains on track with recently increased profit guidance for between £180 million and £190 million for the full-year, which would be up to 17% higher than the previous year.

It said trading since its last update on January 21 has been in line with expectations.

Chairman Ian Dyson paid tribute to Mr Baldock’s “exceptional contribution to Currys”.

He said: “During his eight years here, he has achieved a huge amount, transforming the business in the face of some difficult headwinds.

“Currys is very well positioned for future success with a strategy that is clearly working, great financial health and a very strong leadership team.”

Currys has 702 stores across six countries and employs more than 25,000 staff.