Comments
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.
Comments
COMMENT NOW
Comments
Comments have to be in English, and in full sentences. They cannot be abusive or personal. Please abide by our community guidelines for posting your comments.
We have migrated to a new commenting platform. If you are already a registered user of TheHindu Businessline and logged in, you may continue to engage with our articles. If you do not have an account please register and login to post comments. Users can access their older comments by logging into their accounts on Vuukle.