UK's Currys names Nordics chief Tønnesen as group CEO

LONDON, June 3 (Reuters) - British electricals retailer Currys on Wednesday named the boss of its Nordics business, Fredrik Tønnesen, as its new group chief executive, succeeding Alex Baldock.

Tønnesen, who will start his new role on August 3, has headed the Nordics division, accounting for about 40% of group revenue, since 2023.

Baldock, CEO for eight years and the architect of Currys' turnaround, will leave the firm on August 31. He will join health and beauty retailer Boots in the autumn.

Tønnesen started his career on the shop floor as a sales assistant and subsequently served as managing director for Norway and as Nordics chief operating officer.

Last month, Currys, which sells computers, gaming products, televisions, fridges, washing machines and mobile phones, forecast an 18% rise in annual profit after underlying sales at its main UK and Ireland business rose 3%, bucking the trend of a generally subdued retail sector.

Shares in Currys are up 19% over the last year.

(Reporting by Prerna Bedi in Bengaluru and James Davey in London; Editing by Subhranshu Sahu and Louise Heavens)