Philip Clarke, Tesco's director of group IT has been revealed as the new chief executive. This news comes following the stepping down of Sir Terry Leahy after his 14 year reign as head of the supermarket giant.
At the age of 55, Leahy has announced his retirement and is due to be replaced by Clarke in March of next year.
Currently, Clarke has control of the group's international operations in Asia and Europe as well as group IT as a whole.
On his appointment to the board 12 years ago, Clarke was given the responsibility of Clarke supply chain and IT.
After working in this role for six years, Clarke was promoted to oversee international operations while still managing IT. He is also currently responsible for almost 2,000 stores.
A spokesperson for Tesco spoke out today saying, "He has been at the heart of all our new moves and operational improvements across Asia and Europe in recent years, including China, India and Turkey, building teams and developing talent in these important markets."
Leahy stated, "I am delighted Phil Clarke has accepted the role of CEO. I have worked with Phil at Tesco for many years and I am confident he has all the necessary talent, energy and experience to take the group forward. He will be supported by an outstanding team of senior executives who together represent one of the strongest leadership teams in the world of retailing."
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