Capital working for sustainability is the theme of the event
|RSS Feeds||News Alerts||Newsletter|
Head of Tesco’s UK business, Richard Brasher, is to the quit the firm the supermarket giant revealed today in a statement.
Brasher will step down from the board with immediate effect and leave the company in July. It says the move follows group CEO Philip Clarke's decision to have much closer involvement in the UK business.
The decision comes in the wake of a profit warning two months ago, which left the grocery sector reeling.
Speaking in relation to the decision, Clarke said: "I have decided to assume responsibility as the CEO of our UK business at this very important time. This greater focus will allow me to oversee the improvements that are so important for customers."
He said that he had not had a row with Brasher and that the stepping down did not "signal another warning".
The news comes in the wake of an announcement that Tesco is to take on 20,000 new staff in Britain in order to make up ground it lost after the January profit warning.