REG - Currys PLC - Alex Baldock to step down as Group Chief Executive

CurrysAnnouncement

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RNS Number : 1544Y  Currys PLC  26 March 2026

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 section 430(2B) of the Companies Act 2006.

This announcement contains inside information which is disclosed in accordance
with the UK Market Abuse Regulation.

For further information

 Dan Homan    Investor Relations  +44 (0)7401 400442
 Tim Danaher  Brunswick Group     +44 (0)2074 045959

Information on Currys plc is available at www.currysplc.com
(http://www.currysplc.com)
Follow us on LinkedIn and X: @currysplc

 

About Currys plc

Currys plc is a leading omnichannel retailer of technology products and
services, operating online and through 702 stores in 6 countries. We Help
Everyone Enjoy Amazing Technology, however they choose to shop with us.

In the UK & Ireland we trade as Currys and in the UK we operate our own
mobile virtual network, iD Mobile. In the Nordics we trade under the Elkjøp
brand. We're the market leader in all markets, able to serve all households
and employing more than 25,000 capable and committed colleagues.

We help everyone enjoy amazing technology. We believe in the power of
technology to improve lives, helping people stay connected, productive, fit,
healthy, and entertained. We're here to help everyone enjoy those benefits and
with our scale and expertise, we are uniquely placed to do so.

Our full range of services and support makes it easy for our customers to
discover, choose, afford and enjoy the right technology to the full. The
Group's operations include one of Europe's largest technology repair
facilities, a sourcing office in Hong Kong and an extensive distribution
network, centred on Newark in the UK and Jönköping in Sweden, enabling fast
and efficient delivery to stores and homes.

We're a leader in giving technology a longer life through repair, recycling
and reuse. We're reducing our impact on the environment in our operations and
our wider value chain and we aim to achieve net zero emissions by 2040. We
offer customers products that help them save energy, reduce waste and save
water, and we partner with charitable organisations to bring the benefits of
amazing technology to those who might otherwise be excluded.

Certain statements made in this announcement are forward-looking. Such
statements are based on current expectations and are subject to a number of
risks and uncertainties that could cause actual results to differ materially
from any expected future events or results referred to in these
forward-looking statements. Unless otherwise required by applicable laws,
regulations or accounting standards, we do not undertake any obligation to
update or revise any forward-looking statements, whether as a result of new
information, future developments or otherwise. Information contained on the
Currys plc website or the 'X' feed does not form part of this announcement and
should not be relied on as such.

 

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