Belfast Telegraph

Tesco's UK boss to step down

By Graeme Evans

Tesco said its UK boss will step down later this year as the supermarket group bids to revive its domestic business following a disastrous winter.

Long-serving director Richard Brasher took on the role last March but has paid the price for Tesco's worst Christmas trading performance for many years.

His role will be taken on by group chief executive Philip Clarke, who has pledged a much closer involvement in the UK business.

Mr Clarke said: "This greater focus will allow me to oversee the improvements that are so important for customers."

Tesco said Mr Brasher will leave the business in July once he has overseen the handover of responsibilities to Mr Clarke.

"He will leave behind a UK business which has very strong plans for improvement, and over the last two months these plans are beginning to show progress, in line with our expectations," Mr Clarke added.

The retailer's Christmas Big Price Drop campaign flopped, prompting a near £5bn slump in its market value.

Tesco's market share slipped from 30.3% a year ago to 29.7% last month - a seven-year low.