Shop Direct CEO Alex Baldock to leave next summer
Alex Baldock, CEO of e-commerce giant Shop Direct, will be leaving the business in the summer of next year, it has been announced.
Baldock joined the business in 2012, and has delivered five consecutive years of record financial performance for the group, which owns the Very.co.uk, Very Exclusive and Littlewoods brands.
Earlier this week the business reported sales of £1.93bn (+5.6% like-for-like) and underlying profit before tax of £160.4m (+10.2% like-for-like) in 2016/17 – up from £1.65bn and £16.5m respectively in 2011/12 when he joined.
Baldock said he was leaving to pursue the "next challenge". "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," he said.
“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. I’d like to say a personal thank you to everyone at Shop Direct and to [Shop Direct chairman] Aidan Barclay and his family for their years of support and encouragement, which have been invaluable," Baldock added.
Describing Baldock as a "class act", Barclay said: "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.
“He’ll head off to his next challenge with our very best wishes for, and every confidence in, his future success. 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," Barclay added.
Prior to joining Shop Direct Baldock was in banking and held senior roles at RBS and Barclays and before that he was a strategy consultant.
