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Tesco promotes UK executives to lead international business
March 20, 2017 / 11:59 AM / 9 months ago

Tesco promotes UK executives to lead international business

LONDON, March 20 (Reuters) - Tesco, Britain’s largest retailer, said on Monday its long-standing international boss Trevor Masters would step down and two executives who have played key roles in the firm’s turnaround at home would take over his responsibilities.

Since Dave Lewis joined as chief executive in 2014 Tesco has been simplifying its international business and has left several countries including South Korea and Turkey.

Tesco said Masters, CEO of Tesco International, would leave the business at the end of May, drawing a close to a 38-year career at the firm. Masters has been in his current role for two and a half years and before that led Tesco’s Asia business.

Tesco said that from April 1 Tony Hoggett will become Tesco’s CEO Asia and Matt Simister will become CEO Central Europe.

Hoggett is a 27-year Tesco veteran and is currently UK Chief Operating Officer. Simister has been with the company for 21 years and is currently food sourcing director.

“Tony and Matt’s work has been at the heart of Tesco’s turnaround over the last two years and I‘m delighted that they will join our executive committee,” said Lewis.

“Their new roles will allow us to focus on the different opportunities presented in Asia and Central Europe.”

Tesco, which agreed a surprise 3.7 billion pound ($4.6 billion) takeover of food supplier Booker in January, is due to publish 2016-17 results on April 12. ($1 = 0.8059 pounds) (Reporting by James Davey; editing by David Clarke)

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