Dan Coatsworth, head of markets at AJ Bell, said: “The resignation of Alex Baldock is a £141 million loss to Currys, judging by the amount wiped off its market value on the news.
“The CEO leaves on a high.
“He not only fought off an activist investor trying to take over the business on the cheap but also steered the ship out of a rocky patch and took it to new heights.
“Finding someone of Baldock’s calibre as a replacement will not be easy.
“He has achieved the rare task of keeping a high street retailer relevant in the digital age.
“Currys’ strengths lie in not only matching prices from online rivals like Amazon, but also in serving people who need help with choosing the right technology and as a place to get kit fixed.
“Good customer service should never be underestimated, particularly when you can ask a question in person.
“Baldock was right to have rejected Elliott’s takeover bid as the company was merely going through a tough period.
“The share price then doubled over the next two years, vindicating the board’s decision to turn down the offer.
“Baldock’s leadership success at Currys has elevated his bankability in the business world and it was only a matter of time before someone offered him a bigger job.”
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