Analysts say this week’s reshuffle of the Tesco board has highlighted one of the retailer’s key strengths: its ability to promote from within.
Of the changes announced this week, the key ones were the planned promotion of Richard Brasher to commercial and trading director next March and the decision to make Philip Clarke director in charge of international operations.
Brasher’s appointment is covered in full on page four. Clarke too is seen by analysts as a rising star and his promotion in December will see him taking over these responsibilities from David Reid who next April steps up to become non-executive chairman of the group.
Clarke, who has spent 29 years working at Tesco, is currently logistics and IT director and will
retain his responsibilities for IT. David Potts will add logistics to his responsibilities for the UK retail business; the company’s marketing and e-commerce director Tim Mason will oversee property and the Republic of Ireland; while current finance director Andrew Higginson will become responsible for Tesco’s corporate strategy.
Also next March company secretary Rowley Ager will retire, to be replaced by group director of corporate affairs Lucy Neville-Rolfe, who will join the plc executive committee, retaining her existing responsibilities.
When the changes are complete the average age of the executive directors on the Tesco board will be 44. One analyst said: “The Board is annoyingly young, but they have all been with the company 20 years.”
Chairman John Gardiner said: “Tesco has a strong track record of succession planning and these appointments mark a further step in the board’s evolution.” Analysts agreed. “When it comes to promoting from within, Tesco is a well-oiled machine,” said one.
Of the changes announced this week, the key ones were the planned promotion of Richard Brasher to commercial and trading director next March and the decision to make Philip Clarke director in charge of international operations.
Brasher’s appointment is covered in full on page four. Clarke too is seen by analysts as a rising star and his promotion in December will see him taking over these responsibilities from David Reid who next April steps up to become non-executive chairman of the group.
Clarke, who has spent 29 years working at Tesco, is currently logistics and IT director and will
retain his responsibilities for IT. David Potts will add logistics to his responsibilities for the UK retail business; the company’s marketing and e-commerce director Tim Mason will oversee property and the Republic of Ireland; while current finance director Andrew Higginson will become responsible for Tesco’s corporate strategy.
Also next March company secretary Rowley Ager will retire, to be replaced by group director of corporate affairs Lucy Neville-Rolfe, who will join the plc executive committee, retaining her existing responsibilities.
When the changes are complete the average age of the executive directors on the Tesco board will be 44. One analyst said: “The Board is annoyingly young, but they have all been with the company 20 years.”
Chairman John Gardiner said: “Tesco has a strong track record of succession planning and these appointments mark a further step in the board’s evolution.” Analysts agreed. “When it comes to promoting from within, Tesco is a well-oiled machine,” said one.
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