UK: Tesco strategy director Fleming steps down
Tesco has been struggling to turn around its performance following a fall in half-year profits last month
UK retail giant Tesco has confirmed the departure of its group strategy director Michael Fleming.
A spokesperson for the retailer told just-food today (19 November) that Fleming has taken a sabbatical and therefore stepped down from the role. Tesco has appointed Sergei Spiridonov from the consultancy McKinsey as a replacement.
The spokesperson said the appointment was a permanent one and that Fleming would not be returning into that role but declined to comment beyond that.
The retailer has been struggling to turn around its performance following a fall in half-year profits last month and is embarking on a series of initiatives to revitalise its domestic business.
The move follows a suggestion by Tesco last month that it is on the lookout for a successor to its European head Gordon Fryett amid reports he is to retire. Fryett, who was appointed into the role last December, is reported to be retiring in around a year's time, according to The Financial Times.
Tesco also saw the departure of its head of UK operations Richard Brasher in March.
This is a detailed report covering Tesco’s store formats, private labels, history, key employees, and key financial and operational metrics in the Czech Republic...
Sainsbury's initial campaigns promoted brands, own label products, and buying basic ingredients. As the credit crunch continued, Sainsbury's launched Live Well for Less. Tesco emphasized price in 2008...
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