- Push-out Score determined
- After about five years in the position
- Praise and words of regret for Lewis
- Ken Murphy taking over
- Lewis spoke at length and said 162 words
(exechange) — Welwyn Garden City, United Kingdom, October 2, 2019 — Dave Lewis, chief executive of Tesco, leaves. As announced by Tesco Plc in a news release on Wednesday, October 2, 2019, Dave Lewis, chief executive officer, leaves Britain’s biggest retailer after about five years in the role, effective in the summer of 2020.
Dave Lewis’s duties as CEO will be taken over by Ken Murphy, currently Executive Vice President, Chief Commercial Officer and President Global Brands of Walgreens Boots Alliance.
The fact that Dave Lewis’s successor is brought in from outside suggests that the board may seek to stimulate change with fresh ideas and new initiatives.
“My decision to step down as Group CEO is a personal one”
Dave Lewis’s departure from the CEO post is explained as follows. Dave Lewis said: “My decision to step down as Group CEO is a personal one. I believe that the tenure of the CEO should be a finite one and that now is the right time to pass the baton.”
Precise information regarding Dave Lewis’s future plans was not immediately available.
Tesco said: “Dave Lewis has decided to step down as Group CEO of Tesco.”
Share price increase since September 2014
The announcement follows an increase in Tesco PLC’s share price of 29% since September 2014.
Chaired by John Allan
Tesco PLC is chaired by John Allan.
John Allan joined the Board of Tesco PLC as Chairman on March 1, 2015.
In the position of CEO since 2014
Dave Lewis became CEO of the Company in September 2014.
Dave Lewis joined the Board of Tesco PLC as Group Chief Executive on September 1, 2014.
Dave Lewis has significant experience in brand marketing, customer management and general management.
Prior to joining Tesco, he worked for Unilever for nearly 30 years in a variety of different roles across Europe, Asia and the Americas.
He has experience across many sectors in the UK and overseas, and has been responsible for a number of business turnarounds.
He was previously a non-executive director of Sky PLC.
Dave Lewis is also a member of the Governance Committee of the Consumer Goods Forum and chair of Champions 12.3, a UN program seeking to add momentum to the achievement of the UN Sustainable Development Target 12.3 by 2030.
Push-out Score determined
The Push-out Score™ determined by exechange gauges the pressure surrounding the management change on a scale of 0 to 10.
exechange reached out to Tesco and offered the company the opportunity to comment on the score.
Read the full story in the exechange report 40.2019 ($).