08:20 EST, 21 January 2018
The new chief executive of Dixons Carphone has been awarded a suite of financial rewards that could earn him up to £15million over the next five years.
Alex Baldock has been parachuted into the firm to replace Sebastian James, whose departure to take up a new post running Boots was revealed in a surprise announcement on Friday night.
Baldock resigned from his former job at Shop Direct, based in Speke, Liverpool, in October last year.
Alex Baldock is new chief executive at Dixons
It is the UK’s second largest purely online retailer with brands including Very.co.uk and Littlewoods.
While at Shop Direct, Baldock ditched the familiar Littlewoods catalogues in favour of internet-only purchasing.
He is understood to be in line for a salary, pension and annual bonus, which could top £2million each year if he hits performance targets.
He will also be awarded shares of almost three times his basic pay which will be made available to him in five years’ time if he remains with the firm for that period.
Baldock’s total rewards could be several million pounds higher if he reinvigorates the share price, which is at £1.88 per share compared to £5 two years ago.
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