Tesco moves executive in controversial share sale

Tesco has handed a senior executive a new role just four weeks after he made more than £200,000 by selling shares shortly before its first profits warningin 20 years wiped £5bn off its market capitalisation.

The controversial share-sale by Noel "Bob" Robbins, UK chief operating officer, on 4 January raised City eyebrows as it came just eight days before the grocery giant's calamitous statement on its dire domestic Christmas trading and expectations of "minimal" profit growth next year.

Tesco said yesterday it had moved Mr Robbins, who had been in his previous role for less than a year, to work directly for the chief executive, Philip Clarke, "on a number of initiatives".

But Tesco said the change of role for him had nothing to do with the share transaction, adding it was about getting the right people into different areas of the business.

"As we move closer to the new financial year, I have reflected on the changing needs of the business and I have asked Bob Robbins to change his executive committee accountabilities," said Mr Clarke.

Richard Brasher, the UK chief executive of Tesco, said: "I would personally like to thank Bob for his contribution and support over the last year. His wealth of experience has improved our store operations and I look forward to working with him on delivering our strong investment plan over the coming year."

Mr Robbins will be succeeded as head of operations in the UK by Chris Bush, current boss of Tesco's Thailand business, who has been at Tesco for 29 years. John Christie, a 30-year Tesco veteran, is to take over from Bush in Thailand.

Mr Brasher said: "Last month we set out our determination to invest in the UK business. These changes give the UK board the combined strength of a very experienced leader of change and a talented country chief executive who has done an extraordinary jobin Thailand."

Suggested Topics
Start your day with The Independent, sign up for daily news emails
PROMOTED VIDEO
ebooks
ebooksA special investigation by Andy McSmith
Latest stories from i100
Have you tried new the Independent Digital Edition apps?
Independent Dating
and  

By clicking 'Search' you
are agreeing to our
Terms of Use.

iJobs Job Widget
iJobs Money & Business

Day In a Page

Michael Calvin: Time for Old Firm to put aside bigotry and forge new links

Michael Calvin's Last Word

Time for Old Firm to put aside bigotry and forge new links
Isis hostage crisis: The prisoner swap has only one purpose for the militants - recognition its Islamic State exists and that foreign nations acknowledge its power

Isis hostage crisis

The prisoner swap has only one purpose for the militants - recognition its Islamic State exists and that foreign nations acknowledge its power, says Robert Fisk
Missing salvage expert who found $50m of sunken treasure before disappearing, tracked down at last

The runaway buccaneers and the ship full of gold

Salvage expert Tommy Thompson found sunken treasure worth millions. Then he vanished... until now
Homeless Veterans appeal: ‘If you’re hard on the world you are hard on yourself’

Homeless Veterans appeal: ‘If you’re hard on the world you are hard on yourself’

Maverick artist Grayson Perry backs our campaign
Assisted Dying Bill: I want to be able to decide about my own death - I want to have control of my life

Assisted Dying Bill: 'I want control of my life'

This week the Assisted Dying Bill is debated in the Lords. Virginia Ironside, who has already made plans for her own self-deliverance, argues that it's time we allowed people a humane, compassionate death
Move over, kale - cabbage is the new rising star

Cabbage is king again

Sophie Morris banishes thoughts of soggy school dinners and turns over a new leaf
11 best winter skin treats

Give your moisturiser a helping hand: 11 best winter skin treats

Get an extra boost of nourishment from one of these hard-working products
Paul Scholes column: The more Jose Mourinho attempts to influence match officials, the more they are likely to ignore him

Paul Scholes column

The more Jose Mourinho attempts to influence match officials, the more they are likely to ignore him
Frank Warren column: No cigar, but pots of money: here come the Cubans

Frank Warren's Ringside

No cigar, but pots of money: here come the Cubans
Isis hostage crisis: Militant group stands strong as its numerous enemies fail to find a common plan to defeat it

Isis stands strong as its numerous enemies fail to find a common plan to defeat it

The jihadis are being squeezed militarily and economically, but there is no sign of an implosion, says Patrick Cockburn
Virtual reality thrusts viewers into the frontline of global events - and puts film-goers at the heart of the action

Virtual reality: Seeing is believing

Virtual reality thrusts viewers into the frontline of global events - and puts film-goers at the heart of the action
Homeless Veterans appeal: MP says Coalition ‘not doing enough’

Homeless Veterans appeal

MP says Coalition ‘not doing enough’ to help
Larry David, Steve Coogan and other comedians share stories of depression in new documentary

Comedians share stories of depression

The director of the new documentary, Kevin Pollak, tells Jessica Barrett how he got them to talk
Has The Archers lost the plot with it's spicy storylines?

Has The Archers lost the plot?

A growing number of listeners are voicing their discontent over the rural soap's spicy storylines; so loudly that even the BBC's director-general seems worried, says Simon Kelner
English Heritage adds 14 post-war office buildings to its protected lists

14 office buildings added to protected lists

Christopher Beanland explores the underrated appeal of these palaces of pen-pushing