Tesco ousts CEO - The Packer

Tesco ousts CEO

07/25/2014 11:47:00 AM
Pamela Riemenschneider

After three years at the helm of Tesco PLC, the United Kingdom-based retail giant plans to replace its chief executive officer Phillip Clarke.

The company said in a statement that Dave Lewis will join the board on Oct. 1 as chief executive officer in succession to Clarke, who will support the transition through January 2015.

Lewis is the current president of personal care at Unilever.

“Having guided Tesco through a substantial repositioning in challenging markets, Phillip Clarke agreed with the board that this is the appropriate moment to hand over to a new leader with fresh perspectives and a new profile,” said Sir Richard Broadbent, Tesco chairman, in a statement. “Phillip has done a huge amount to set a clear direction and reposition Tesco to meet the rapid changes taking place in the retail market.”

Broadbent said Lewis brings expertise in change management, business strategy, brand management and customer development.

“His is already known to many people inside Tesco having worked with the business over many years in his roles at Unilever,” Broadbent said, in the statement. “The board believes that with Dave’s leadership, Tesco will sustain and improve its leading role in the retail market.”



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