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Dixons boss defects to Apple

TIP UPDATE: Dixons' boss jumps ship to Apple, and we'd suggest investors do the same
February 1, 2012

After staging a recovery last week following news of better than expected Christmas trading, Dixons' shares came under pressure again after the surprise news that chief executive John Browett would be leaving to head up technology giant Apple's retail business.

IC TIP: Sell at 14p

Mr Browett will be replaced by operations director Sebastian James, who has been deeply involved in delivering the group's 'renewal and transformation' programme, an initiative that has helped it fare better than rivals in a difficult electricals market.