Business
Alex Baldock to step down as Group Chief Executive
Currys plc announced that Group Chief Executive Alex Baldock will step down after eight years to pursue a new external opportunity, with the board initiating a search for his successor. The company confirmed that trading remains in line with expectations, and it continues to anticipate Group adjusted profit before tax between £180 million and £190 million, representing an 11-17% year-on-year increase. Furthermore, Currys expects net cash to be above its £100 million target by the year-end on May 2, 2026. Disclaimer*
About this update from Currys Plc
We Help Everyone Enjoy Amazing Technology Alex Baldock to step down as Group Chief Executive The Board of Currys plc announces that Alex Baldock has informed it of his intention to step down after eight years as Group Chief Executive, to take a new external position. The Board will commence a formal and thorough recruitment process for Alex's successor, considering both internal and external candidates, and will provide an update in due course. During this time, Alex will remain in role, continuing to drive business performance and ensuring a smooth and orderly transition, supported by his leadership team. Ian Dyson, Group Chair "On behalf of the Board, I want to thank Alex for his exceptional contribution to Currys. 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. On behalf of everyone at Currys, I wish Alex all the best in his future endeavours." Alex Baldock, Group Chief Executive "My eight years at Currys have been simply the best of my career, and I'll always be a loyal Currys customer, advocate and shareholder. "I'm immensely grateful to the thousands of amazing colleagues I've been privileged to work with, and proud of what that team is building, a world class Currys for colleagues, customers and shareholders. "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." Current trading update Since the Peak trading update on the 21 January 2026, the Group has traded in-line with expectations and continues to expect Group adjusted profit before tax of £180-190m, +11-17% YoY. For the year-end 2 May 2026 we expect net cash to be above the £100m target. Next scheduled announcement and disclosures The Group is scheduled to publish a full year trading update on 19 May 2026. The remuneration arrangements in relation to Alex's departure from the Company, which will be consistent with the Company's Remuneration Policy, will be disclosed on the Company's website at the appropriate time in accordance with sect...