The business on...Terry Green, Consultant, Tesco

Any relation to that other retail guru with the same name?

Assuming you mean Sir Philip, no, but he did used to work for him. A few years ago Terry Green was boss of BHS, one of the great man's retail assets. He left in 2003 for an ill-fated spell at Allders (the chain collapsed) before popping up at Tesco in 2005.

It's a small world.

Indeed. Mr Green made his name in the 1990s at Debenhams and also had a long spell at Burton, under Sir Ralph Halpern, another big name. There he worked closely with Stuart Rose, who would later take the top job at Marks & Spencer.

So what's he up to now?

It depends who you talk to. The industry magazine Drapers ran a story yesterday which quoted Mr Green saying that Tesco planned to launch a one-off West End store as a flagship for F&F, the clothing range that used to be known as Florence & Fred, which has been a huge hit in its supermarkets. Tesco itself now seems to be denying the story.

Isn't that a bit odd?

Well, Mr Green is only a consultant to Tesco these days. In March, he stood down as head of non-food at the grocer – retail watchers had been expecting the move, with Tesco having poached Sainsbury's head of non-food, Richard Jones, last year.

A fall from grace, then?

Not necessarily. Mr Green is still working on special projects for the grocer. He had a five-year contract with Tesco that was due to end and he is admired for his work there, including within the company itself, where he is understood to have been the highest paid member of staff not on the board. Other retailers respect him, too: M&S's Rose, now Sir Stuart, offered him a king's ransom to decamp to them a few years ago.

Still, he has more time on his hands these days?

But he keeps busy. Mr Green has always been something of a property magnate, buying and selling a string of pads after doing them up. His Highgate mansion went on the market for £5m at the end of last year. Should help keep him in the fast cars he likes.