John Walden has been appointed the new Chief Executive of Home Retail Group and will take over the role in 14 March 2014.
Walden, who has been Argos managing director for two years, will replace Terry Duddy who announced he would step down in September.
John Walden said he was delighted to have the opportunity to lead the Group.
“In Argos and Homebase we have two of the UK‘s best known retail brands, which have both shown good recent progress and have clear strategies in place to deliver growth,” he said. “The retail landscape is changing quickly, and I am optimistic that with solid plans and 50,000 talented colleagues, Home Retail Group is well positioned for a successful future.”
John Coombe, Chairman said: “I look forward to working with John in his new role. I would also like to extend the Group‘s thanks to Terry for his long serving commitment. His contribution during his time with the Group has been significant, including driving the development of the Group, providing clear leadership through challenging times and pioneering changes in retail that position the business ready for a digital future.”
Meanwhile like-for-like sales for the 18 weeks to 4 January at Argos rose 3.8 per cent to £1.81bn.