In Ken Murphy, Tesco Has Named A Shrewd Operator As Its New CEO: Analysis
When he was parachuted in to lead Tesco in 2014, chief executive Dave Lewis came with a 'no-nonsense' reputation – encapsulated in the epithet 'Drastic Dave' that the Yorkshireman had earned during his time at Unilever.
At the time, Tesco was a bloated beast, beset by falling profits and market share, and facing into the maelstrom of an accounting scandal that would have lasting repercussions. Yet over the space of five years, Lewis has led Tesco back to relative prosperity – sales were up marginally to £28.3 billion (€32.6 billion) in the first half of its financial year – and shed the retailer of its unnecessary baggage.
In other words, job done.
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