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Alex Baldock
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Alex Baldock
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Alexander David Baldock (born 21 November 1970) is a British businessman, former banker, and the chief executive (CEO) of Currys plc (formerly Dixons Carphone).[1]

Key Information

Early life

[edit]

Alexander David Baldock was born in November 1970.[2] He was educated at Oundle School, followed by a degree in modern history from Worcester College, Oxford.[3][4]

Career

[edit]

Baldock started his career as a management consultant at Kalchas, before joining Barclays.[5] From 2008 to 2012, Baldock worked for the asset finance company, Lombard, a division of RBS Group, rising to managing director.[5]

In 2012, Baldock joined Shop Direct as CEO.[5] In October 2017, Baldock announced that he would be leaving Shop Direct at the end of January 2018.[6]

In January 2018, Sebastian James resigned as CEO of Dixons Carphone, to run Boots UK, "in a surprise move days before it updates the City on its Christmas trading performance", and was succeeded by Baldock, who had been CEO of the online retailer Shop Direct since 2012.[7][8] Two months into his tenure at Dixons Carphone he launched a scathing attack on his predecessor declaring that he had found “plenty to fix” at the retailer in a classic example of kitchen sinking.[9]

He is a Conservative Party donor.[10] He is paid £1 million per year as CEO of Currys plc.[1]

Personal life

[edit]

Baldock is married to garden designer Amy Roberts, and they have four children.[4] He is a supporter of Chelsea F.C.[1]

References

[edit]
Revisions and contributorsEdit on WikipediaRead on Wikipedia

Alex Baldock

View on Grokipedia
from Grokipedia
Alex Baldock is a British businessman who has served as of , the United Kingdom's leading technology retailer, since July 2018. In this role, he has overseen the company's shift toward an integrated omni-channel model, emphasizing digital services, customer-centric innovations, and sustainable practices to adapt to competitive pressures from online pure-plays. Prior to Currys, Baldock was CEO of Shop Direct Group (now ) from 2012 to 2018, where he directed its evolution from a traditional catalogue-based operation into a digitally focused entity, achieving accelerated growth through enhanced online capabilities and data-driven personalization. Baldock's career spans retail, , and consulting; earlier positions included managing director at Royal Bank of Scotland's asset division, Lombard, and roles in focused on operational efficiencies. Under his leadership at , the firm navigated challenges such as a 2024 takeover bid from Chinese investor , which was ultimately rejected, allowing continued focus on independent transformation strategies amid economic headwinds and sector consolidation. His tenure has emphasized resilience in physical-digital integration, with recent results highlighting recovery in sales and profitability through targeted investments in services like repairs and installations.

Early life and education

Upbringing and family background

Alex Baldock was born in , , and grew up primarily in following his family's relocation there during his early years. He has characterized his childhood as comfortable and privileged, contrasting with the more challenging circumstances faced by his father. Baldock's father, Brian Baldock, came from a tough working-class background in , enlisting in the army as a teenager before entering as a representative; he later advanced to lead Brewing and served as a at . The family environment emphasized matters through regular discussions at home, fostering Baldock's early exposure to professional ambition and . As a , took on manual jobs including bar work, , and assisting in erecting a circus tent in , experiences that complemented his privileged setting by providing practical insights into labor. He is married to Amy Baldock, with whom he has four children: Max, Joe, Harry, and Issy.

Academic achievements

Baldock attended , a boarding independent school in , , prior to university. He then studied modern history at Worcester College, , earning a degree with a double first, denoting first-class honors in both preliminary and final examinations. Following his undergraduate studies, Baldock obtained a (MBA) from . He later completed executive education programs at , the international business school with campuses in , , and .

Professional career

Initial roles in consulting and banking

Baldock began his professional career in after graduating from the . His first role was at Kalchas, the strategy consulting arm of , where he worked on operational efficiency projects, including factory improvements for clients such as KP Crisps. He later joined , specializing in strategy and operations consulting with projects spanning the United States, Asia, and Europe. Transitioning to banking, Baldock joined in 2005 as corporate director, overseeing aspects of commercial lending and finance operations until 2008. In 2008, he was appointed managing director of Lombard, Bank of Scotland's asset finance division, where he led financing solutions for business equipment and vehicles amid the global .

Transformation of Shop Direct

Alex Baldock joined Shop Direct as group chief executive in September 2012, succeeding Mark Dickinson at a time when the company, traditionally reliant on catalogue sales through brands like and Very, faced declining profitability and a shrinking market for print media. Under his leadership, Shop Direct accelerated its pivot to digital commerce, investing heavily in infrastructure, mobile optimization, and data analytics to transition from a legacy mail-order model to a pureplay online retailer. This included phasing out printed catalogues entirely by March 2016, making the business 100% digital and enabling personalized customer experiences through and m-commerce capabilities. The transformation yielded measurable financial improvements, with Shop Direct reporting its first underlying profit in a decade for the year ended July 2013, alongside group sales of £1.69 billion—a 1% increase from £1.67 billion the prior year—and 78% of sales originating digitally. Profits doubled in fiscal 2014, driven by mobile devices accounting for 44% of group turnover, while underlying pre-tax profit rose 10.2% to £160.4 million in 2017 amid sales of £1.93 billion, up 5.6% on a like-for-like basis. These results marked four consecutive years of record sales and profit growth, positioning Shop Direct as the UK's second-largest pureplay etailer by customer numbers and elevating its market share in non-food online retail. The company's technological advancements, such as the Very Assistant chatbot and app enhancements, earned accolades including Tech Team of the Year and Digital Launch of the Year at the 2017 Retail Week Tech Awards. Baldock's tenure emphasized customer-led innovation, including expansions in and personalized marketing campaigns like #LoveGiving, which contributed to robust holiday trading and a 9% sales increase in one recent period following 6% growth the year prior. He departed in summer 2018 after announcing his exit in October 2017, leaving the company as a profitable, tech-forward entity rebranded later as . Baldock described the shift as converting "a dusty old catalogue retailer into a growing, profitable and innovative etailer."

Leadership at Currys plc

Alex Baldock was appointed Group Chief Executive of Currys plc (formerly Dixons Carphone plc) effective April 2018, succeeding Sebastian James. Baldock's leadership has centered on an ambitious transformation of the retailer, integrating digital capabilities with physical stores to foster omni-channel growth and deepen customer engagement through expert services. This includes embedding sustainability via expanded repair, refurbishment, and recycling operations, with a Newark facility employing 1,000 staff and repairing 1.4 million appliances annually. In 2022, Currys introduced a £5 trade-in scheme that yielded 65,000 trade-ins and repurposed 120,000 spare parts, boosting margins on refurbished products over new sales. To enhance , Baldock implemented measures, such as eliminating hundreds of roles and divesting business unit. These steps addressed post-merger redundancies from the 2014 integration and positioned the company—operating 727 stores across six countries—for resilience amid retail sector pressures. Financial results under Baldock reflect strengthening performance, with fiscal year 2024/25 adjusted profit before tax at £162 million (up 37% year-over-year), of £149 million (up 82%), and revenue of £8.7 billion (up 2% like-for-like). He has emphasized cultivating "customers for life" via service-led loyalty, including investments to attract younger buyers and hybrid working models to boost employee productivity.

Business strategies and impact

Digital and operational reforms

Since assuming the role of CEO at in July 2018, Alex Baldock has spearheaded a multifaceted transformation program aimed at enhancing digital infrastructure and operational resilience amid competitive pressures from rivals. Central to this has been the advancement of an retail model, integrating physical stores with platforms to facilitate seamless customer experiences, such as click-and-collect services and in-store digital kiosks, which contributed to stabilizing sales at £10.1 billion in the 2021/22 fiscal year despite a 1.9% decline from the prior period. This approach leverages data analytics and customer credit options to drive repeat business, with Baldock emphasizing the role of in bridging offline and channels. In May 2024, announced a strategic partnership with , , and their to modernize its technology estate, accelerate generative AI adoption, and simplify core systems, including a migration to cloud services that consolidates nine on-premises s housing over 2,000 servers. This initiative targets operational efficiencies by embedding AI for tasks like management and personalized recommendations, while enhancing cybersecurity and supporting the company's [net-zero emissions](/page/net-zero emissions) goal by 2040 through reduced energy use. Baldock described AI as "the biggest technological leap of our lifetime," positioning it to revolutionize internal processes and customer interactions without displacing jobs en masse. Operationally, Baldock has pursued cost discipline through , process optimization, and selective , particularly in response to fiscal pressures like the UK's October 2024 threshold changes, which imposed an estimated £30 million in additional annual costs on . These reforms include non-core functions to lower-cost regions such as and automating back-office workflows, enabling the company to maintain profitability—evidenced by a 37% profit increase reported in July 2025—while investing in via tailored hybrid work policies that prioritize office collaboration for innovation. Such measures have allowed to claw back from pure-play e-tailers like Amazon by fostering a customer-centric culture supported by streamlined logistics and supply chain .

Sustainability and repair initiatives

Under Alex Baldock's leadership as CEO since 2018, has prioritized a model emphasizing repair, , and to extend product lifespans and reduce environmental impact. The company positions itself as a leader in prolonging use, integrating these efforts into its core strategy to drive profitability and customer loyalty while targeting net zero across Scopes 1, 2, and 3 by 2040. Currys' repair initiatives include completing 1.6 million customer repairs annually via nearly 1,500 engineers, with the ISO 14001-certified Newark facility in Nottinghamshire handling diagnostics and fixes for items ranging from smartphones to large appliances using 3D-printed parts, video-call troubleshooting, and a database of historical issues. The RepairLive service has served 320,000 customers, while partnerships enable authorized repairs for Microsoft Surface laptops, Xbox devices (as the first UK&I Xbox service provider), and other brands. In 2024/25, 34% of spare parts at Newark derived from reused technology, and the company fixed 70% of returned laptops (deemed no-fault) and 30-40% of returned TVs as fully functional, diverting items from waste. Refurbishment and trade-in programs support , with over 130,000 refurbished technology items sold in the UK and in 2024/25 (an 11% increase) and a 29% rise in Nordic sales; refurbished mobile phones yield higher margins than new units. A £5 trade-in scheme for unwanted electrics processed 60,300 items in the UK&I (average value £137), yielding 120,000 spare parts since 2022 and serving 12 million repair customers overall. These efforts align with broader goals, including 25% of repair parts from harvested components. Recycling volumes reached 5.5 million e-waste units (87,000 tonnes) in 2024/25 through take-back schemes and partnerships like Cash for Trash with and , plus collaboration with Environcom for processing. Baldock has advocated for policies enhancing these initiatives, including "" laws (enacted in the in 2021 and advancing in the ) to mandate manufacturer-supplied parts and tools, and a proposed VAT cut or elimination on refurbished electrics—already taxed once—to curb waste, amid statistics of 500 million small electrics discarded in 2023 and high per-capita e-waste. He criticized the government's 2024 e-waste reforms as ineffective, arguing they risk undermining retailer-led services. These programs contribute several hundred million pounds to ' £5 billion UK/Ireland revenue, with ambitions for service income to match retail sales, while environmental metrics include a 38.6% Scope 3 emissions reduction since 2019/20 and removal of over 1.27 million plastic packaging items (50+ tonnes). Governance involves the ESG Committee and Baldock's oversight, tying 10% of executive bonuses to e-waste and net zero progress.

Controversies and challenges

Corporate restructuring and job cuts

In March 2020, under Baldock's leadership as CEO, (then Dixons Carphone) announced the closure of all 531 standalone stores in the UK, resulting in approximately 2,900 redundancies. This restructuring aimed to integrate sales into larger outlets, eliminating underperforming standalone sites amid declining high street footfall and a shift toward retail. The move was not directly tied to the emerging but accelerated adaptation to structural changes in consumer behavior, with the company emphasizing preserved capacity in core electronics stores. Subsequent operational reforms under Baldock included selective store rationalization, such as the closure of the Weymouth branch in March 2024, though specific job impacts from individual closures were limited and not aggregated into large-scale layoffs. By contrast, frontline retail positions have remained stable, with the workforce hovering around 28,000 globally as of early 2025, reflecting a prioritizing customer-facing roles over expansion in back-office functions. In May 2025, initiated a consultation for reducing approximately 80 non-customer-facing roles, targeting a 10% cut in central costs to offset a £30 million rise in expenses from contributions and increases. Company statements described this as a "difficult decision" necessary to sustain competitiveness, with support offered to affected staff, while underscoring no impact on retail operations and an upgraded profit outlook to £162 million for the . Baldock has publicly attributed such measures to external fiscal pressures, including policies, rather than internal inefficiencies, warning that further tax hikes could exacerbate hiring restraints without prompting widespread redundancies. Complementary cost efficiencies, such as for tasks like product demonstrations via kiosks, have been implemented to reallocate staff from "much disliked" duties, preserving overall employment levels.

Defense against takeover bids

In February 2024, rejected an unsolicited takeover proposal from Elliott Advisors, a US-based activist firm, which offered 62 pence per share, valuing the company at approximately £700 million; the board, led by CEO Alex Baldock, stated that the bid "significantly undervalued" the business and its ongoing transformation efforts. Elliott had approached twice with similar proposals, but the retailer maintained its position, emphasizing the potential for independent value creation through operational reforms and market recovery rather than a sale at what it deemed a discounted price. The rejection triggered interest from , a Chinese e-commerce giant, which announced on February 19, 2024, that it was evaluating a potential offer for amid the Elliott developments; however, ultimately did not proceed with a formal bid, leaving independent. defended the board's stance by highlighting ' strategic progress, including upgraded profit forecasts and a focus on "full-circuit" retail combining physical stores, online sales, and services, which he argued positioned the company for sustainable growth beyond short-term bidder valuations. Elliott withdrew its interest entirely on March 11, 2024, citing an inability to reach agreement, after which shares initially fell but later recovered as the company demonstrated resilience. By July 2025, ' share price had risen nearly 50% from the bid levels, reinstating dividends and exceeding profit expectations, which Baldock attributed to the decision to prioritize long-term strategy over opportunistic takeovers, including resistance to influences. This outcome was praised in some analyses as a model for firms defending against undervaluing bids from activist funds and overseas players, underscoring Baldock's role in safeguarding shareholder value through operational focus rather than divestiture.

Economic and policy critiques

Alex Baldock has repeatedly criticized fiscal and employment policies under the Labour government, contending that measures such as the increase in employer contributions and hikes function as a "tax on jobs" that elevate operational costs, suppress domestic hiring, and incentivize . Following Chancellor ' Budget announcements, he projected a £32 million cost increase for , attributing this to combined effects of changes, higher wages, and other levies, which he warned would necessitate price adjustments for consumers, curtail investment, accelerate , and prompt greater reliance on to lower-cost regions like . argued these policies contradict Labour's pledges to support growth, instead fostering and disproportionately burdening retail sectors with high . He has opposed broader initiatives like Labour's " for workers," cautioning that enhanced employment rights and costs could inadvertently impoverish workers by reducing job opportunities and flexibility, particularly for part-time or student employees. In January 2024, Baldock faulted the prior Conservative government's rise and proposed mandates for exacerbating cost pressures amid already elevated business rates, asserting they demonstrated a lack of regard for retailers' viability. Despite Currys achieving a 37% profit increase to approach £9 billion in by mid-2025, he urged restraint on additional tax hikes, warning they would stifle expansion and employment even as the firm pursued efficiencies. Critics have countered that Baldock's resistance to these policies prioritizes corporate margins over worker welfare and economic equity. Upon assuming the CEO role at (then Dixons Carphone) in 2018, he implemented aggressive cost reductions, including thousands of job eliminations and shifts toward , which some observers linked to practices that diminished UK-based roles. His recent emphasis on and Indian in response to fiscal changes has drawn accusations of leveraging policy complaints to justify labor , potentially exacerbating in retail while profits accrue. These decisions align with broader imperatives for competitiveness against online rivals but have been portrayed in some analyses as contributing to wage suppression and regional job losses, notwithstanding ' overall turnaround under his tenure. On trade matters, Baldock has advocated for vigilance against surges, warning in April 2025 of a "flood" of Chinese electronics diverted to the due to US tariffs under President Trump, citing risks of product dumping, safety lapses, and tax avoidance by overseas manufacturers. Regarding , he maintained in December 2020 that was fully prepared for the transition, experiencing only brief supply disruptions of up to two days, which did not materially impair operations.

Personal life

Family and relationships

Alex Baldock is married to Amy Roberts, a former designer at the fashion brand Mulberry who now runs her own garden design company. The couple has four children: Max, Joe, Harry, and Issy. In a , described his children—who were then aged between 11 and 16—as "unruly" and credited them with keeping his "feet on the ground" amid professional demands. He has spoken of prioritizing family time, including weekends spent with his wife, children, and two dogs, as noted during his transition to leadership at what became in 2018. The family also keeps a , reflecting a household oriented around active domestic life.

Political involvement and interests

Alex Baldock signed an open letter published in The Telegraph on April 1, 2015, alongside 103 other business leaders, praising the Conservative government's economic policies under David Cameron and George Osborne and warning that abandoning them would risk recovery, urging voters to support the party in the upcoming election. He has been identified as a donor to the Conservative Party. In a May 2023 BBC interview, Baldock noted that he had been approached ("wooed") by representatives of both the Labour and Conservative parties seeking his input on economic matters. Following Labour's July 2024 general election victory, he welcomed the resulting political clarity for planning while calling for manifesto commitments like business rates reform to be prioritized, emphasizing the retail sector's role in job creation and economic growth. Baldock's public commentary has frequently critiqued Labour's proposed workers' rights reforms, arguing in March 2024 that they could inadvertently make people poorer by erecting barriers to part-time and entry-level hiring, and in June 2025 that such policies were "actively working against job creation" by increasing costs and risks for employers. He has also opposed further hikes on retailers, warning Chancellor in July 2025 against adding to the burden amid inflationary pressures, as this would stifle growth, jobs, and investment. Despite these criticisms, he expressed encouragement in June 2024 over revisions to Labour's employment package that appeared to soften some mandates. His interests align with pro-business , flexible labor markets, and fiscal policies supporting retail competitiveness, often framed through ' lens of employing over 20,000 people and advocating for government-retail partnerships to reduce and boost . No evidence indicates formal political affiliations, candidacies, or direct involvement in party activities beyond these policy interventions and historical support.

References

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