Shake-up in store: Home Retail chief steps down
Your support helps us to tell the story
This election is still a dead heat, according to most polls. In a fight with such wafer-thin margins, we need reporters on the ground talking to the people Trump and Harris are courting. Your support allows us to keep sending journalists to the story.
The Independent is trusted by 27 million Americans from across the entire political spectrum every month. Unlike many other quality news outlets, we choose not to lock you out of our reporting and analysis with paywalls. But quality journalism must still be paid for.
Help us keep bring these critical stories to light. Your support makes all the difference.
The boss of Argos and Homebase owner Home Retail Group today stood down after 15 years at the company.
Terry Duddy said he will leave the group by the time of its AGM next July, with Argos’ managing director John Walden seen as his most likely successor.
Duddy was chief executive of Argos when Home Retail’s predecessor, GUS, snapped up the retailer in 1998. He later became chief executive of Home Retail in 2006.
“The positive momentum of the business is now such that I feel the time is right to move on to the next stage in my career,” the 57-year-old said.
Home Retail has overhauled Argos and Homebase following years of underperformance. Recent signs have been positive. Both retailers have been hit by the economic downturn while Argos has been under pressure from competitors like Tesco and Amazon.
The company said the search for its next chief executive will be led by chairman John Coombe and will include internal and external candidates. Analysts said Walden will be under pressure to deliver strong results at Argos over the festive period if he is to beat off rivals for the job.
Subscribe to Independent Premium to bookmark this article
Want to bookmark your favourite articles and stories to read or reference later? Start your Independent Premium subscription today.
Join our commenting forum
Join thought-provoking conversations, follow other Independent readers and see their replies
Comments