Tesco UK boss Richard Brasher to step down

 

Tesco said its UK boss will step down later this year as the supermarket group bids to revive its domestic business following a disastrous winter.

Long-serving director Richard Brasher took on the role last March but has paid the price for Tesco's worst Christmas trading performance for many years.

His role will be taken on by group chief executive Philip Clarke, who has pledged a much closer involvement in the UK business.

Mr Clarke said: "This greater focus will allow me to oversee the improvements that are so important for customers."

Tesco said Mr Brasher will leave the business in July once he has overseen the handover of responsibilities to Mr Clarke.

"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," Mr Clarke added.

The Liverpudlian earlier this year admitted Christmas had been disappointing after its Big Price Drop campaign flopped, prompting a near £5 billion slump in its market value.

Tesco's share of the sector has slipped from 30.3% a year ago to 29.7% in the 12 weeks to February 19, a level last seen in May 2005.

Mr Clarke has already revealed he plans to cram a three-year overhaul into the next 12 months, including a raft of initiatives dealing with online, price and home delivery.

PA

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