Tesco chief to retire after 14 years
By Mark Potter |
June 9, 2010, Wednesday
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Print Edition
Print Edition
TERRY Leahy, who built Tesco into Britain's biggest supermarket chain, has announced his retirement, leaving new boss Philip Clarke to tackle the group's toughest challenge - its loss-making United States arm, Fresh & Easy.
The retailer said Leahy, 54, had decided to step down next year after 14 years as chief executive, having led the group to dominate the market at home and expand abroad from China to the US.
He will be succeeded by Clarke, 50, who had risen from the shop floor to head the group's international businesses in Asia and Europe.
David Potts, UK retail and logistics director, will become head of Tesco in Asia, while commercial director Richard Brasher will be chief executive of the UK business.
The retailer said Leahy, 54, had decided to step down next year after 14 years as chief executive, having led the group to dominate the market at home and expand abroad from China to the US.
He will be succeeded by Clarke, 50, who had risen from the shop floor to head the group's international businesses in Asia and Europe.
David Potts, UK retail and logistics director, will become head of Tesco in Asia, while commercial director Richard Brasher will be chief executive of the UK business.
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