© David Ingham
Philip Clarke will continue as chief executive until that date, when he will step down from the board but will continue to be available to support the transition until the end of January 2015.
In a statement, Tesco has announced that trading conditions ‘are more challenging than anticipated’ at the time of its first quarter interim management statement on 4 June 2014. The overall market is weaker and, combined with the increasing investments the company is making to improve the customer offer and to build long-term loyalty, this means that sales and trading profit in the first half of the year are ‘somewhat below expectations’.
Source: Tesco
© FoodBev Media Ltd 2024