Currys plc (LON:CURY) has announced the appointment of Fredrik Tønnesen as Group Chief Executive Officer, effective 3 August 2026.
Fredrik has served as Chief Executive of Currys’ Nordics business since March 2023, with responsibility for approximately 40% of Group revenue. He brings over 20 years of experience with the Group, having started his career on the shop floor as a sales assistant and subsequently serving as Managing Director for Norway and Nordics Chief Operating Officer.
As Nordics Chief Executive Officer, Fredrik has delivered outstanding financial and operational performance, more than tripling operating profits while elevating colleague and customer satisfaction scores to world-class levels.
Fredrik’s appointment follows a comprehensive search considering both internal and external candidates. Fredrik replaces Alex Baldock, who will step down from the Board on 3 August 2026 and will support the orderly transition of responsibilities to Fredrik until his departure on 31 August 2026.
Ian Dyson, Chair:
“I am delighted to welcome Fredrik as our next Group Chief Executive. He has huge experience inside the business and has led an extremely impressive operating performance improvement over the last three years. He understands our customers, our colleagues and our culture from the inside, and brings the right combination of clarity, energy and leadership to take Currys forward, building on the strong foundations that Alex and the team have put in place.”
Fredrik Tønnesen, incoming Group Chief Executive Officer:
“I’m incredibly proud to be leading Currys, a company that I joined 20 years ago on the shop floor and know extremely well. This is a great business comprising thousands of capable and committed colleagues, and it is hugely exciting to take on its leadership at a time of such strong momentum.
My job, with the full support of the leadership team and all my colleagues, is to keep this momentum going and find every way to accelerate it. I can’t wait to get started.”
Alex Baldock, outgoing Group Chief Executive Officer:
“Fredrik is an outstanding leader, and I’m delighted to see him take the reins at Currys. His experience and track record speak for themselves, most recently in leading the Nordics’ recovery. I look forward to watching Currys go from strength to strength under his leadership.”
Full Year Results
As reported on 19 May 2026, Group full year adjusted PBT is expected to be around £191m, and the Group finished the year with net cash of more than £170m. The Group is scheduled to publish its full results on 2 July 2026.
Remuneration
Details of Fredrik Tønnesen’s remuneration as Group Chief Executive Officer will be set out in the 2025/26 Annual Report and will be in line with the Directors’ Remuneration Policy approved by shareholders at the AGM in September 2025.
Alex Baldock’s leaving arrangements will be in accordance with the Directors’ Remuneration Policy and his service contract. Full details will be disclosed on the Group’s corporate website in compliance with Section 430(2B) of the Companies Act 2006 and in the 2025/26 Annual Report.
