Home Retail Group chief exec Terry Duddy to quit next year

After an impressive 15-year stint with the firm, chief executive Terry Duddy is to quit Argos owner Home Retail Group next July.

He’s served as chief executive for seven years but told HRG’s AGM yesterday that he would vacate the role on July 2nd 2014. Duddy and chairman John Coombe will work together to identify a successor.

Argos this year reported its first like-for-like sales increase for five years, with Click & Collect being positioned as a key strategy for the business.

"It has been a great privilege to lead this group for 15 years, including the last seven as the chief executive of Home Retail Group," Duddy said.

"We have achieved a great deal in that time 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.

"We have built a great management team and I look forward to continue working with them during the coming year to progress the exciting strategies that we have established for both businesses."