In the news: Incoming Home Retail chief executive John Walden profiled

The hope was though that he would quickly become a mover and shaker on this side of the Atlantic as he launched Argos, still often associated with laminated catalogues and stubby blue pens, on a new digital trajectory that would rekindle its appeal as shopping habits changed.

Far from the stereotype of the brash Yank, the quietly spoken Walden has presided over a raft of improvements at Argos reflected in an improving performance.

The multichannel retailer last week reported like-for-like growth of 3.8% in the 18 weeks to January 4, during which it celebrated its best Christmas showing in more than a decade.

Argos’s brighter prospects, after years in which analysts questioned whether it had a future, earned Walden promotion to become chief executive of parent group Home Retail.

Walden will succeed Home Retail veteran Terry Duddy next month and, so far, has limited his comments about assuming the role to saying he is “optimistic that with solid plans Home Retail Group is well positioned for a successful future”.

His promotion has generally gone down well with the City, where he was regarded by many as a shoo-in on the back of his work so far in charge of Argos.

Nomura analysts observed: “We feel that John Walden’s appointment to CEO as of suggests that Argos’ strategy to evolve the nature of the business for a sustainable future is beginning to show signs of success.”

Personality-wise, Walden is not very well known in the City. “He’s been kept in the background a bit to let him get on with it at Argos,” says one analyst, who thinks he comes across as “thoughtful” and “concerned with the big picture”.

Behind the quiet exterior, Walden is clearly open-minded and driven. He was happy to move to the UK from his native US because his family was pretty much grown-up and he was excited by the opportunity to experience life abroad.

His business background shows a driven and entrepreneurial streak. As well as background at electricals retail giant Best Buy, he has experience of building businesses in the digital commerce era. He was for instance chief operating officer of online grocer Peapod and ran his own consultancy.

On his LinkedIn profile Walden describes himself thus: “Multifaceted leader with proven record of business growth across a diverse range of businesses, from start-up to Fortune 50.

“Success in creating transformational results through strategic insight, operating excellence, engaging leadership and ability to combine entrepreneurial energy with scale.”

However, despite preparing to take up the position with the trading and investor wind behind him, Walden still has much to prove and analysts wonder what his appointment may mean for the structure of Home Retail.

They will want reassurance that progress at Argos will continue as Walden takes on group responsibilities, and wonder whether the changing of the guard may prompt reassessment of whether DIY retailer Homebase should remain part of the business or be split off.

N+1 Singer analyst Matthew McEachran said in a note to investors: “The trial stores look interesting and the trial with eBay also presents an opportunity.

“However we remain cautious on the longer-term outlook believing that management’s targets remain a little too optimistic, already require about £800m capex over five years including cash-hungry refits at Homebase, and may yet need more radical surgery around the store portfolio,”

Argos’s catalogue was famously referred to by comedian WHO as “the laminated book of dreams”. For Walden, stewardship of Home Retail will represent walking on to the field of dreams as ultimate boss of two of the country’s best known retail businesses.

When he sits down in the chief executive’s chair in Milton Keynes next month, the direction and speed of travel will be up to him.