Dixons Shakes Up Management As CEO Quits

Date : 01/31/2012 @ 3:00AM
Source : Dow Jones News
Stock : Dixons Retail (DXNS)
Quote : 52.95  0.0 (0.00%) @ 2:30AM
Dixons Retail share price Chart

Dixons Shakes Up Management As CEO Quits

Dixons Retail (LSE:DXNS)
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Dixons Retail PLC (DXNS.LN) said Tuesday its Chief Executive John Browett has resigned to join Apple Inc. (AAPL), as the U.K-based electrical retailer shakes up its top management.

Browett, who will step down from the board on Feb. 20 and leave the company on April 20, will take up the role of Senior Vice President of Retail at the California-based giant.

He will be replaced by Sebastian James, Dixons' Group Operations Director. James, who previously had a career in private equity, played a leading role in the company's transformation of its U.K. and Ireland operations, including the rollout of new store formats, the company said in a statement.

Katie Bickerstaffe, currently responsible for the e-commerce operations in the U.K. & Ireland, has been appointed Chief Executive of U.K. & Ireland and will also join the board on Feb. 20.

The group said it continues to trade in line with trends reported in its trading statement on Jan. 17.

"While the economic backdrop in many of our markets remains challenging, our unswerving focus on the customer has put us in a very strong position," James said in a statement.

Dixons shares closed Monday at 15.2 pence, valuing the company at GBP550 million.

By Simon Zekaria, Dow Jones Newswires; +44 207 842-9410; simon.zekaria@dowjones.com

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