Shop Direct chief executive Alex Baldock is stepping down from the helm of the online retailer next summer after five years.
Baldock, who joined the online retail group in 2012, has been credited for the Shop Direct’s five consecutive years of rising sales and profits, including the underlying pre-tax profits jump of 10.2 per cent to £160.4 million and revenues increase of 14.6 per cent to £1.26 billion in the fiscal year ending July 1.
Other hallmarks of his leadership include ending Shop Direct’s long-standing catalogue and investing heavily in customer data to increase personalised online shopping experiences.
Baldock has not yet revealed or confirmed if he has secured another role.
A successor as not yet been announced by Shop Direct, either.
“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,” Baldock 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 Aidan Barclay and his family for their years of support and encouragement, which have been invaluable.”
Shop Direct chairman Aiden Barclay added: “[Baldock has] 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.”