The head of Tesco’s convenience store operations, Tony Reed, will be stepping down from the company, according to reports from industry publication The Grocer.
Reed leaves the company after 38 years, have started off stacking shelves in 1978. In March of 2011, he became the CEO of One Stop, when the Tesco subsidiary bought Mills Group.
For the year ending February 2015, under Reed, One Stop saw its sales rise by 17.2 per cent to £925 million, as the wider Tesco business saw its fortunes fall.
A little over a year ago, Reed was place at the helm of a new business unit that brought together Tesco's Metro, Express and One Stop stores, as part of new CEO Dave Lewis’s management changes.
A Tesco spokesperson told The Grocer, "Tony has made a huge and varied contribution to our business throughout his 38-year career at Tesco and we wish him every success for the future."
A successor has yet to be chose, but the spokesperson confirmed that one would be chose in due time.
© 2016 European Supermarket Magazine – your source for the latest retail news. Article by Jenny Whelan. To subscribe to ESM: The European Supermarket Magazine, click here.