Electrical retailer Currys has named its new chief executive. Fredrik Tønnesen, who is currently in charge of the company's Nordics division, is set to take over the top job. He will replace current CEO, Matt Brittin, in the role. The appointment comes as Currys continues to navigate the challenges of the UK's rapidly changing retail landscape.
Tønnesen's background is notable for his humble beginnings as a shop assistant at Currys. He later rose through the ranks to become the boss of the company's Nordics division. His experience in the Nordics region is expected to bring a new perspective to the role.
Currys is part of the Dixons Carphone group, which also includes the Carphone Warehouse brand. The company has been facing increased competition from online retailers and has been working to improve its online presence. The appointment of Tønnesen, who has experience in leading the company's Nordic operations, may be seen as a key move in this strategy.
The UK's retail sector has been under intense pressure in recent years, with many high street stores closing their doors. However, Currys has reported improved sales in recent quarters, with the company citing its online growth as a key factor.
As the new chief executive, Tønnesen will be expected to build on this momentum and drive growth for the company. He will also face the challenge of navigating the UK's changing regulatory landscape, including the implementation of the EU's AI Act.
The UK's Information Commissioner's Office (ICO) has been working to regulate the use of artificial intelligence in the UK, which could have significant implications for businesses operating in the sector.