After 14 years as CE O, Terry Leahy announced his retirement in June
and, as part of our long-term succession plan, Philip Clarke replaced
him at the helm in March 2011.
Terry is undoubtedly one of the leading businessmen of his generation.
Under his leadership we have more than quadrupled our sales and
profits, expanded into 13 countries outside the UK and entered new
markets such as online retailing and financial services. On behalf of
everyone at Tesco and all our shareholders, it is a privilege to thank
Terry for his unrivalled contribution to the success of the business.
There could be no better person to lead us going forward than Philip
Clarke. Philip has worked at Tesco throughout his career, spending
many years in Retail and Commercial. He joined the Tesco Board in
1998 and, as part of his role as Asia, Europe and IT Director, has been
at the heart of many of our most important developments and
operational improvements in recent years, such as entry into China,
Turkey and India and the introduction of the Tesco Hindustan Service
Centre (HSC ) – our global services arm.
I set the Nominations Committee the objective of delivering a seamless
succession and I am delighted with the outcome. The handover process
from Terry to Philip was very smooth. I have every confidence that
under Philip’s leadership, Tesco will go on to achieve even greater
success in the future.
In order for the Tesco Board to better reflect the global nature of our
business, provide more focus on key areas of performance and deliver on
our immediate objectives, we made additional changes in March 2011.
Tim Mason has become Deputy CE O and Chief Marketing Officer in
addition to his role as President and CE O Fresh & Easy.
Richard Brasher has assumed the newly created role of CE O for the UK,
as well as having responsibility for the Republic of Ireland, whilst David
Potts has become the first CE O of our growing Asia business. Laurie
McIlwee has taken on...