Currys PLC (LSE:CURY) has promoted Fredrik Tønnesen, a former sales assistant and most recently the head of its Nordic business, to succeed Alex Baldock as group chief executive as the electricals retailer looks to build on a recent recovery in trading and profits.
Tønnesen, 44, will take over on 3 August after rising through a series of senior management roles over more than two decades with the company.
He currently runs Currys' Nordic operations, which account for about 40% of group revenue and reported strong growth in its most recent results.
Chairman Ian Dyson said Tønnesen had delivered an "extremely impressive operating performance improvement" in the Nordics, where operating profits have more than tripled during his tenure while customer and employee satisfaction scores have also improved.
The appointment follows a search that considered both internal and external candidates, the retailer said.
Baldock, who has led Currys since 2018, will step down from the board when Tønnesen takes over and remain with the business until the end of August to support the handover.
Tønnesen said he was "incredibly proud to be leading Currys, a company that I joined 20 years ago on the shop floor and know extremely well".
The leadership change comes as Currys prepares to publish full-year results on 2 July, which it said last month would show adjusted profit before tax of around £191 million and year-end net cash above £170 million.