John Browett, who has been battling to turn around the struggling Dixons Retail empire, is to quit the company to become Senior Vice President of Retail operations at Apple, the US consumer electronics giant.
The owner of the PC World and Currys chains said Browett will be succeeded by Sebastian James, who will take up his position on February 20th, the same day Browett steps down. Browett will leave Dixons on April 20th following a hand-over period.
MoneyWeek
Subscribe to MoneyWeek today and get your first six magazine issues absolutely FREE
Sign up to Money Morning
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
A further part of the shake up will see Katie Bickerstaffe promoted to a new role as Chief Executive, UK & Ireland.
Despite Dixons saying trading is in line with its last (very positive) trading statement the news of Browett's departure has not gone down well in the markets. At 09:32, Dixons shares had fallen 4.5%.
It's interesting to look at Dixons' share price movement in recent times. The stock is down 39% over five years, 27% over the last 12 months but in the last six months has improved markedly, up 5% since August and, since the trading update on January 17 up 50%, giving a sense of the momentum of the recent recovery under Browett.
BS
-
Football fans issued warning over ticket scams ahead of 2026 World CupSantander customers lost more to football scams in the first six months of 2025 compared to the same period in 2024, when total losses surged due to the Euros
-
Nationwide fined £44 million over “inadequate” anti-money laundering systemsFailings in Nationwide’s financial crime processes between October 2016 to July 2021 meant one criminal was able to deposit £26 million from fraudulent Covid furlough payments in just eight days.
