Dave Lewis news and archive

Tesco CEO Dave Lewis to step down as turnaround nears completion

Tesco In its interim results statement for the first half, Tesco Group said, sales grew by 0.1 percent at actual rates, including a 0.5 percent foreign exchange translation benefit due to the depreciation of Sterling to 31.1 billion pounds (38.1 billion dollars). At constant rates, the company added, sales grew in all regions apart from Central...

Design

Tesco suspends directors as investigation into profits overstatement is launched

UK's largest retailer, Tesco has decided to defer its half-year financial reportand suspended four executives after discovering that its first half profit guidance was overstated by 250 million pounds. In a statement published on Monday, Tesco noted that overstatement was “principally due to the accelerated recognition of commercial income and...

Design

Tesco's Chairman becomes more involved ahead of newly appointed CEO's arrival

Tesco's Chairman, Sir Richard Broadbent, is believed to have become more involvedin the management of the UK's largest retailer group, to ensure a smoother transition when newly appointed CEO Dave Lewis joins the team on October 1. Broadbent is thought to be working more intimately with ousted CEO Philip Clarke, who will step down from his role...

Fashion

Tesco appoints Dave Lewis as CEO

Tesco, UK's largest retailer, is set to usher in a new Chief Executive Officer after its another profit warning led to the exit of its current CEO, Philip Clarke. On Monday morning, the struggling retailer announced the impending appointment of Dave Lewis, who is set to join the company on 1 October, asCEO in succession to Philip Clarke. Lewis,...