Home Retail Group chief Terry Duddy to leave the firm next year

Chief executive of the Argos-owning company will step down on July 2nd 2014
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Terry Duddy, the chief executive of Argos parent company Home Retail Group, is leaving the firm next year reports The Guardian.

Duddy is credited with creating the click and collect ordering and was the boss of Argos for 15 years and chief executive of Home Retail Group for seven. He will step down from the role on July 2nd 2014.

“It has been a great privilege to lead this group for 15 years, including the last seven as the Chief Executive of Home Retail Group plc," said Duddy.

"We have achieved a great deal in that time and the positive momentum of the business is now such that I feel the time is right to move onto the next stage in my career.

"We have built a great management team and I look forward to continue working with them during the coming year to progress the exciting strategies that we have established for both businesses.”

Group's chairman John Coombe is looking at internal and external candidates to take on the role with current Argos boss John Walden looking a likely replacement.

“Terry is one of the longest serving Chief Executives in the industry and he has provided strong leadership during one of the toughest periods of economic uncertainty faced by the business," said Coombe.

"As a result of the Group’s exceptional cash generation in recent years, we have the financial strength to support both Argos and Homebase in delivering their strategic plans.

"The Group has a strong management team in place and we are delighted that Terry will continue to lead the Group as we manage the orderly appointment of his successor.”

John Coombe, Chairman of Home Retail Group said:

“Terry is one of the longest serving Chief Executives in the industry and he has provided strong leadership during one of the toughest periods of economic uncertainty faced by the business. As a result of the Group’s exceptional cash generation in recent years, we have the financial strength to support both Argos and Homebase in delivering their strategic plans. The Group has a strong management team in place and we are delighted that Terry will continue to lead the Group as we manage the orderly appointment of his successor.”

Terry Duddy, Chief Executive said:

“It has been a great privilege to lead this group for 15 years, including the last seven as the Chief Executive of Home Retail Group plc. We have achieved a great deal in that time and the positive momentum of the business is now such that I feel the time is right to move onto the next stage in my career. We have built a great management team and I look forward to continue working with them during the coming year to progress the exciting strategies that we have established for both businesses.”

- See more at: http://www.homeretailgroup.com/news-and-media/news.aspx?&article=5064#sthash.AGoKmgFe.dpuf

John Coombe, Chairman of Home Retail Group said:

“Terry is one of the longest serving Chief Executives in the industry and he has provided strong leadership during one of the toughest periods of economic uncertainty faced by the business. As a result of the Group’s exceptional cash generation in recent years, we have the financial strength to support both Argos and Homebase in delivering their strategic plans. The Group has a strong management team in place and we are delighted that Terry will continue to lead the Group as we manage the orderly appointment of his successor.”

Terry Duddy, Chief Executive said:

“It has been a great privilege to lead this group for 15 years, including the last seven as the Chief Executive of Home Retail Group plc. We have achieved a great deal in that time and the positive momentum of the business is now such that I feel the time is right to move onto the next stage in my career. We have built a great management team and I look forward to continue working with them during the coming year to progress the exciting strategies that we have established for both businesses.”

- See more at: http://www.homeretailgroup.com/news-and-media/news.aspx?&article=5064#sthash.AGoKmgFe.dpuf

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