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| Tesco boss Philip Clarke to leave retailer | Tesco boss Philip Clarke to leave retailer |
| (35 minutes later) | |
| Tesco has said chief executive Philip Clarke is to leave the retailer in October and will be replaced by Dave Lewis from Unilever. | Tesco has said chief executive Philip Clarke is to leave the retailer in October and will be replaced by Dave Lewis from Unilever. |
| The retail giant also said that current trading conditions had been "more challenging" than anticipated. | The retail giant also said that current trading conditions had been "more challenging" than anticipated. |
| It added that sales and trading profit for the first half of the year were "somewhat below expectations". | It added that sales and trading profit for the first half of the year were "somewhat below expectations". |
| In June this year, Mr Clarke insisted that he was "not going anywhere" after a third quarter of falling sales. | |
| He added he was "going to see through a fundamental reshaping of Tesco". | |
| In the statement announcing his departure, Mr Clarke said: "Having taken the business through the huge challenges of the last few years, I think this is the right moment to hand over responsibility." | In the statement announcing his departure, Mr Clarke said: "Having taken the business through the huge challenges of the last few years, I think this is the right moment to hand over responsibility." |
| 'Fresh perspectives' | |
| Mr Clarke has led the firm since 2011. | |
| He will leave Tesco's board on 1 October to be replaced by Dave Lewis, who is currently president of personal care at consumer goods firm Unilever. | |
| It is the first time Tesco has appointed someone from outside the firm to the position of chief executive. | |
| In a statement, Tesco chairman Richard Broadbent said: "Philip Clarke agreed with the board that this is the appropriate moment to hand over to a new leader with fresh perspectives and a new profile. | |
| "Dave Lewis brings a wealth of international consumer experience and expertise in change management, business strategy, brand management and customer development. | |
| "He is already known to many people inside Tesco having worked with the business over many years in his roles at Unilever." | |
| Earlier this year, Tesco's finance director Laurie McIlwee resigned following 15 years with the company. |