Terry Duddy steps down from Home Retail Group

<p>The Home Retail Group chief executive is standing down.</p>

Long-serving Home Retail Group chief executive Terry Duddy has announced today (September 4th) that he will be stepping down from the position.

Having been appointed chief executive of Argos Retail Group in 2000, he also took the position in 2006 when it was renamed Home Retail Group.

"Terry is one of the longest serving chief executives in the industry and he has provided strong leadership during one of the toughest periods of economic uncertainty faced by the business," said John Coombe, chairman of Home Retail Group.

He will now be charged with leading the search for a replacement for Mr Duddy to take over as the new chief executive of the firm, which is one of the UK's biggest retail companies.

The share price of Home Retail Group was slightly up today on the back of the news, with its stocks trading 0.49 per cent higher than at the start of the day's trading at 16:13 BST.

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