Shop Direct hires banking boss as its new chief executive

Baldock, who is currently managing director of RBS Group owned Lombard, joins the online giant in September, taking over from current boss Mark Newton-Jones.

Newton-Jones revealed in January he was to leave Shop Direct, which operates brands including Littlewoods and Very, after almost nine years at the helm. Newton-Jones will support Baldock as he integrates into the business.

Baldock joined Lombard in 2008 from Barclays where he held senior roles in corporate and commercial banking.

Previously he was a management consultant at Bain & Company, Ernst & Young and Dentsu, advising corporate companies across Europe, the US and Asia-Pacific. As a consultant, Lombard gained significant experience advising clients across retail and online.

Baldock is said to have experience in “managing and growing complex businesses through change”.

He said: “I can’t wait to get started at Shop Direct. Mark and the team have built a strong business with great brands and fantastic products delivering strong growth and innovation. The group’s online, mobile and retailing capabilities are the envy of many and it is ideally placed in the increasingly online world in which we live.

“Whilst the economic and retail environment remains very challenging, with a strong stable of brands, clearly focused on delivering for their millions of customers, the group is well-positioned for future success and I am delighted to be taking over as chief executive.”