Shop Direct CEO Alex Baldock to step down
Shop Direct, the owner of Very and Littlewoods, has announced that Alex Baldock is to step down as chief executive of Shop Direct in the summer of 2018.
Since joining the business in September 2012, Baldock has been credited with driving consistent double digit growth at Very.co.uk and almost a tenfold increase in the group’s profits as it invested in technology and personalisation.
He has also strengthened Shop Direct’s executive board and leadership team and reorganised the group’s people, process, data and technology capabilities.
Baldock said: “I’ve loved my time at Shop Direct. It’s been a pleasure and a privilege to lead this exceptional team through such a rapid and far-reaching transformation.
“It’s now time for me to move on to the next challenge, but I will do so with fond memories and full confidence that the business will continue to thrive under new leadership.”
Earlier this month, Shop Direct reported that underlying pre-tax profit climbed by 10.2%, or 6.6% on an adjusted basis, to £160.4 million in the year to 1 July. Meanwhile, group sales increased by 5.6% on a like-for-like basis, or 3.7% on adjusted basis, to £1.93 billion after Very saw sales growth of 14.6%, or 12.6% on an adjusted basis, to £1.26 billion.
Aidan Barclay, chairman of Shop Direct, said: “Alex is a class act. He’s been pivotal to the remarkable digital transformation of Shop Direct. He’s brought strategic clarity, relentless execution, and inspired his people to get behind him at every step.
“In the meantime, I know he and the team will ensure a smooth succession as we continue the transformation of Shop Direct into a world class digital retailer.”
