A file image of Chief Executive of Tesco Philip Clarke
Philip Clarke is to step down as chief executive of Tesco, Britain’s biggest supermarket, the company announced on Monday as it issued a fresh profit warning for the first half of the year.
He is to be replaced by Dave Lewis, a Unilever executive, in October.
Current trading conditions are “more challenging than we anticipated”, Tesco wrote in a statement.
The supermarket giant has suffered from poor sales in the past two years. In 2012, it shocked markets with its first profit warning in two decades.
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Published on July 21, 2014
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