Dixons Retail CEO quits to join Apple

Tue Jan 31, 2012 4:59am EST

The company's logo is seen on the Apple store in Washington October 6, 2011.  REUTERS/Yuri Gripas

The company's logo is seen on the Apple store in Washington October 6, 2011.

Credit: Reuters/Yuri Gripas

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(Reuters) - Europe's second-biggest electrical goods retailer Dixons Retail said on Tuesday that its chief executive was leaving the company to join the world's most valuable technology corporation, Apple, as senior vice president of retail.

John Browett, who is scheduled to leave the company in April, would be replaced by group operations director Sebastian James.

James joined Dixons Retail in April 2008 and has held a number of CEO roles for private-equity backed ventures, was Strategy Director at Mothercare, and worked for Boston Consulting Group.

The FTSE-250 company, whose British rivals include Argos and Comet, also appointed Katie Bickerstaffe as CEO -- UK & Ireland.

Dixons Retail's shares, which have gained 55 percent in the last one month, closed at 15.24 pence on Monday on the London Stock Exchange, valuing the business at 551.3 million pounds.

(Reporting by Juhi Arora in Bangalore; Editing by Roshni Menon)

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