CEO Alex Baldock Quits Shop Direct As Digital Transformations

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Shop Direct has announce that Alex Baldock will be stepping down from
his role as CEO in summer 2018. The company said in a statement that since
joining the business in September 2012, Baldock has led Shop Direct through
one of retail’s fastest and most successful digital transformations.
 
Commenting on his decision to leave he company, Alex Baldock said in a
statement: “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. 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.”
 
ALEX BALDOCK TO QUIT SHOP DIRECT
 
The company added that he developed and pursued a clear strategy, shed
the catalogue, driven consistent double digit growth at Very.co.uk, and
repositioned the group as a technology leader with specialisms in mobile,
data and personalisation. He’s also strengthened Shop Direct’s executive
board and leadership team and revolutionised the group’s people, process,
data and technology capabilities.
 
“Alex is a class act. He’s 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,” added Aidan Barclay, Chairman of
Shop Direct.
 
Under his leadership, Shop Direct delivered five consecutive years of
record financial performance, with accelerating sales growth and an almost
tenfold increase in profits. At the same time, the business enjoyed
substantial improvements in customer satisfaction and colleague engagement,
and been named Retail Week’s Pureplay Etailer of the Year for a record
three years in a row. Baldock himself was earlier this year named by his
peers as the Retail Leader of the Year.
 
Shop Direct earlier this week reported sales of 1.93 billion pounds
(2.52 billion dollars), a growth of 5.6 percent on a like-for-like basis
and underlying profit before tax of 160.4million pounds (209 million
dollars), 10.2 percent rise on a like-for-like basis in 2016/17 up from
1.65 billion pounds (2.16 million dollars) and 16.5 million pounds (21.5
million dollars) respectively in 2011/12.

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