Former Best Buy boss John Walden new CEO Argos

Walden was COO at Peapod, one of the first online supermarkets, before
moving to Best Buy in 1999. Eight years later, he became executive VP
and chief customer officer at Sears Holding (owner of Kenmore, Land’s
End etc).

Wealth of internet experience

“I am delighted John is joining the team; he brings with him a wealth of
multi-channel retail and technology related business experience at
senior levels within a range of both large retail organisations and
smaller entrepreneurial enterprises”, said CEO Terry Duddy: “We look
forward to John bringing a valuable, fresh perspective to the future
development of Argos.”

Walden will not have an easy start at Argos: he faces quite a few
challenges, as shown by the company’s third quarter results. Its like
for like sales went down 8.8% – the eight consecutive quarter with
deteriorating results.

Argos sells 35,000 products online, ranging from televisions to
furniture. Customers can collect their orders in 759 stores. When
announcing the quarterly results, Duddy did not rule out the closing of
several stores. Walden’s point of view on the matter is not yet known.