Dave Lewis the chief executive of Tesco is to step down from the helm next year after claiming the supermarket turnaround is now “complete.”
Lewis said, “I believe that the tenure of the CEO should be a finite one and that now is the right time to pass the baton.
“Our turnaround is complete, we have delivered all the metrics we set for ourselves. The leadership team is very strong, our strategy is clear and it is delivering.”
Tesco chairman John Allan said, “It is with regret that I have accepted the resignation of Dave Lewis as group CEO of Tesco, who has decided that he wants to leave the business in the summer of 2020.
“Dave has done an outstanding job in rebuilding Tesco since 2014 and he continues to have unwavering support from the board.
“Some time ago, however, he indicated to me that he was considering the best time to hand over to a successor.
“His openness allowed me to begin a thorough and orderly process to identify a potential candidate to replace him.”