Home Retail Group's Terry Duddy to stand down
Home Retail Group Terry Duddy is to stand down next year. The search for a successor at the parent company of Argos and Homebase will soon be underway.
The announcement heralds the end of Duddy's 15 years at the company, where, as chief executive for the last seven, he has overseen Argos
' role in pioneering many aspects of ecommerce and multichannel retail, including Click and Collect and more recently mobile-based services such as Check and Reserve.
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."
Duddy said it had been a privilege to lead the company for 15 years. "We have achieved a great deal in that time," he said, "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."