Currys Appoints Fredrik Tønnesen as New Chief Executive Officer (CURY)

Currys PLC (LSE:CURY) has named Fredrik Tønnesen as its next Group Chief Executive Officer, with the appointment taking effect on 3 August 2026.

Tønnesen currently leads the retailer’s Nordic operations, a division that accounts for roughly 40% of group revenue. His promotion follows a leadership selection process that considered both internal and external candidates before the board chose a long-serving executive with more than two decades of experience within the business.

He will succeed Alex Baldock, who will step down from the board on 3 August and remain available to support the transition until his departure from the company at the end of the month.

Internal Success Story Moves to the Top Role

Tønnesen’s career at Currys began on the sales floor more than 20 years ago, progressing through a series of leadership positions that included Managing Director for Norway and Chief Operating Officer for the Nordic region.

Since becoming Chief Executive of Currys Nordics in March 2023, he has overseen a significant improvement in performance across the division. Under his leadership, operating profits more than tripled, while customer and employee satisfaction metrics also improved.

Chairman Ian Dyson highlighted Tønnesen’s extensive experience within the company and credited him with delivering a strong operational turnaround in the Nordic business.

“I am delighted to welcome Fredrik as our next Group Chief Executive,” said Ian Dyson, Chair. “He has huge experience inside the business and has led an extremely impressive operating performance improvement over the last three years.”

New CEO Focused on Sustaining Momentum

Tønnesen said he intends to build on the progress already achieved across the group and continue driving operational improvements.

“I’m incredibly proud to be leading Currys, a company that I joined 20 years ago on the shop floor and know extremely well,” Tønnesen said. “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.”

The appointment comes at a time when Currys has been reporting improving financial performance. In May 2026, the company indicated that adjusted profit before tax for the full year was expected to reach approximately £191 million, while year-end net cash was forecast to exceed £170 million.

Results Due in July

Investors will receive a more detailed update on the retailer’s performance when Currys publishes its full-year results on 2 July 2026.

Details of Tønnesen’s remuneration package will be disclosed in the company’s 2025/26 Annual Report and will be structured in line with the Directors’ Remuneration Policy approved by shareholders in September 2025.

More About Currys PLC

Currys PLC is a leading UK-based technology retailer serving consumers and businesses through stores and online channels across the UK, Ireland and the Nordic region. The company sells a broad range of consumer electronics, household appliances, computing products and related services, with a strategy focused on combining retail expertise, customer service and technical support to build long-term customer relationships.