LONDON: Tesco boss Philip Clarke is to quit after Britain’s biggest retailer warned it would miss profit forecasts, bringing an abrupt end to a disastrous three year reign.
Clarke, who has spent more than £1bil on a failed turnaround plan, will be replaced on Oct 1 by Unilever executive Dave Lewis, who is credited with revamping a number of businesses at the consumer goods group.
Already a subscriber? Log in.
Limited time offer:
Just RM5 per month.
Cancel anytime. No ads. Auto-renewal. Unlimited access to the web and app. Personalised features. Members rewards.
Follow us on our official WhatsApp channel for breaking news alerts and key updates!