Dixons names new CEO as James quits for Boots

DIXONS Carphone said Shop Direct’s Alex Baldock was joining as its chief executive last night, after it emerged that Sebastian James, the current boss, had resigned from the role to run pharmacist Boots.

It is thought the changes in leadership were supposed to be announced together at a later date. However, a Sky News report yesterday evening forced Dixons Carphone to rush out a statement, amid signs the departure could shake investors ahead of Dixons Carphone’s Christmas trading results on Tuesday.

Mr James is joining Walgreens Boots Alliance later this year as its senior vice president, and president and managing director of Boots.

News that Mr James is stepping down from the role he has held since 2014 may not prove a huge shock to the market, after he was linked to the top job at ITV this summer.

However, the timing of his departure – less than two weeks after Marks & Spencer poached Humphrey Singer, Dixons Carphone’s finance director, appears to signal big change at the company.

Both Mr James and Mr Singer were part of the socalled “Dixons mafia” group of executives who have enjoyed success during their careers at the business.

However, a shake-up of the executive team could be welcomed by some investors, who last summer told the board to step up succession planning, after profits at Dixons Carphone plunged.

Mr Baldock, who announced he was leaving Shop Direct in October and will step down at the end of this month, will be taking the reins at Dixons Carphone.

The group, which owns Littlewoods.com and Very. co.uk, posted record sales last October and more recently it has been focused on the use of artificial intelligence in examining customers’ buying patterns.

Shop Direct is owned by Sir David and Sir Frederick Barclay, the proprietors of Telegraph Media Group.