Dixons Carphone boss quits to join Boots

Mr James said: "It has been an enormous privilege to lead this business and to work with such passionate and committed colleagues over the last few years.

"Together, I think that we can be very proud of the profound transformation that we have seen in Dixons Carphone and the sound footing, customer affection, and place in the world that it now enjoys."

It comes weeks after finance director Humphrey Singer left for Marks & Spencer.

Dixons Carphone saw a collapse in half-year profits in December.

Ian Livingston, chairman of Dixons Carphone, said: "Seb has made an outstanding contribution to both the creation and success of Dixons Carphone.

"It is a much stronger company today than when he became CEO of Dixons Retail in 2012 with revenue, profit and customer satisfaction all substantially higher.

"The group is now the market leader in eight countries."

Mr James will be replaced by Alex Baldock at the end of the financial year in April.

Mr Baldock is currently group chief executive of Shop Direct, the UK’s second largest pure-play online retailer, a position which he has held since 2012.

He said he "can’t wait to get started" and added: "Seb and the team have achieved an extraordinary amount, not least reinforcing Dixons Carphone’s position as a leading electrical and mobile retailer in Europe at a time of wrenching change.

"It’s with great excitement that I look forward to getting to know the people and the customers at Dixons Carphone, and to building on these achievements."

Alex Gourlay, co-chief operating officer for Walgreens Boots Alliance, said: "We are delighted that Sebastian will join our company at an equally exciting and challenging time for the retail environment in the UK and for the future development of Boots, a brand synonymous with pharmacy and care.

"We are sure his deep retail expertise will drive significant progress and innovation at Boots for the benefit all our stakeholders."