After half a century at the till, one of Britain's retail titans finally checks out

Sir Stanley Kalms grew Dixons from a photographic studio to biggest UK electrical chain

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One of Britain's most remarkable post-war business careers will come to an end today when Sir Stanley Kalms bows out as chairman of Dixons, the electrical retailer.

Sir Stanley, 70, will preside over his final Dixons shareholders meeting at the Grosvenor House Hotel in central London this morning. In what is bound to be an emotional occasion, Sir Stanley's valedictory speech will close the book on a 54-year career which has seen the highly regarded businessman take Dixons from a single outlet to Britain's biggest electrical retailer. He will retain the honorary title of president but will take no active part in the management of the company.

Sir Stanley was in sparkling form as he hosted a champagne reception at Claridges, London, last night, where guests included Sir Alan Sugar, Sir Richard Greenbury, John Ritblat and Gerald Ronson. Farewell speeches were given by David Mayhew of Cazenove and Lord Saatchi.

It was in 1948 that the 16-year-old Kalms took control of the north London photographic studio that had previously been run by his father. From these humble beginnings Sir Stanley built one of Britain's most powerful retail empires which now encompasses not just the Dixons stores, but Currys, PC World, The Link and an increasingly significant presence overseas.

While many other retail giants, such as Sears and Storehouse, have crumbled and fallen, Dixons has gone from strength to strength. And while other retail entrepreneurs of his generation, such as Sir Ralph Halpern and Sir Terence Conran, have faded, Sir Stanley has resolutely stuck it out. He didn't just wrestle his group to the top, he kept it there.

When Dixons floated on the London Stock Exchange in 1962 it had sales of just £1.4m. Last year it recorded profits of £279m on sales of £5bn. Its market share is three times that of its nearest competitor, the Kingfisher-owned Comet. And over the years it has seen off rivals such as Rumbelows, Laskys and Colorvision.

As Richard Hyman, head of the retail consultants Verdict Research, puts it: "His record speaks for itself, really. Electricals is one of the most difficult retail markets to operate in. But Sir Stanley has always been very focused and very clear about where he wanted to be and how he was going to get there."

Gerald Corbett, the Woolworths chairman who was finance director of Dixons in the 1980s, is fullsome in his praise: "He is a titan of British retailing and one of his greatest strengths is to have moved with the times. The formats have continually been reinvented. There are many of us who have worshipped at the feet of the master and the boardrooms of UK companies are full of them."

Nick Bubb, retail analyst at SG Securities, says: "His greatest business principle has been competitive edge. Twenty years ago that was cameras. Now it's PCs. He knew that if you dominate your market you can make a lot of money."

John Clare, Dixons' chief executive, also paid tribute: "Of course it is a poignant moment for Stanley as he steps back from a business he has created over a remarkable 54 years. As he looks back, we all hope he's proud of the achievements under his tenure." He also credited Sir Stanley with creating a mass market for home electrical products.

Known as an aggressive operator, Sir Stanley is also known for his combative stance on issues dear to his heart. He once called for the chief rabbi's resignation and argued for store security guards to be armed with truncheons. A fervent supporter of the Conservative Party where he is now treasurer, he is an arch opponent of the euro and is championing the "no" campaign.

As a retailer, one of Sir Stanley's skills was to spot a trend and capitalise on it early. Dixons was one of the first retailers to move towards out-of-town shopping in a major way in the 1980s. It recognised the popular appeal of personal computers early on and bought PC World when it had just four stores and took it to a market-leading position.