UK retail giant Tesco has declined to comment on reports it is looking to recruit a commercial director in a bid to turnaround its domestic business.
The world’s third-biggest retailer is understood to have hired executive search firm Zygos to find a director that will sit on Tesco’s UK board and work closely with the chief executive Philip Clarke, the Independent wrote this morning (25 June).
Go deeper with GlobalData
However, a spokesperson for Tesco declined to comment on the report adding that it does not provide commentary on recruitment for individual posts.
This month the retailer recorded a 1.5% fall in underlying UK sales for the 13 weeks to 26 May – its fourth consecutive quarter of falling like-for-like sales, after January’s first profit warning in 20 years.
Tesco’s moves to boost UK sales come amid a stagnant retail sector in the country and with consumer confidence remaining low.
The retailer’s recent domestic problems have prompted Clarke to get more involved in the retailer’s domestic business, which led Richard Brasher, the CEO of the company’s operations in the country, to leave the group in March.
US Tariffs are shifting - will you react or anticipate?
Don’t let policy changes catch you off guard. Stay proactive with real-time data and expert analysis.
By GlobalDataClarke has said he is spending “about two days a week” on its UK business and, during the quarter, had only visited seven of the retailer’s 13 markets. Usually, he would travel to all of the markets, he said.
However, when asked when Tesco will appoint a new chief executive for its UK business, Clarke said he would keep the domestic role “until further notice”.
Zygos declined to comment on whether it was undertaking recruitment for the new post.
