Tesco PLC: Directorate change

15 Mar 2012

As a consequence of Philip Clarke’s decision to take a much closer involvement in the UK business Tesco plc announces today that Richard Brasher has decided to step down from the Board with immediate effect and to leave the Company in July once he has effected a smooth transition of the UK business to Philip.

As a consequence of Philip Clarke’s decision to take a much closer involvement in the UK business Tesco plc announces today that Richard Brasher has decided to step down from the Board with immediate effect and to leave the Company in July once he has effected a smooth transition of the UK business to Philip.
 
Philip Clarke said: “I have decided to assume responsibility as the CEO of our UK business at this very important time.  This greater focus will allow me to oversee the improvements that are so important for customers. I completely understand why Richard has decided to leave and want to thank him for the great contribution he has made over many years. The depth of management at Tesco and the strong leadership team across the Group allow me to take a more active role in the UK whilst our other businesses continue to grow.
 
“Richard has been an architect of our successful format strategy; a true innovator with both Clubcard and the dunnhumby partnership; and over the last ten years has led the transformation of our non-food business and the creation of International Sourcing.
 
“He will leave behind a UK business which has very strong plans for improvement, and over the last two months these plans are beginning to show progress, in line with our expectations.  I am more determined than ever that these improvements in the UK will result in a better Tesco and an even better shopping trip for customers.”
  
ENDS
 
For further information:
 

Investors:
Steve Webb             +44 (0) 1992 644800     
Chris Griffith            +44 (0) 1992 806149     
 

Media:
Tom Hoskin             +44 (0) 1992 806 514  

For more information please contact the Tesco Press Office on
01992 644645

Tesco is the UK's largest retailer and one of the world's leading international retailers. Tesco has around 5,000 stores worldwide, employing over 500,000 people in the 14 countries in which it operates. Our core purpose is to create value for customers to earn their lifetime loyalty. Our success depends on people: the people who shop with us and the people who work with us.