Directorate Change

RNS Number : 1274E

Tesco PLC

04 April 2014

 



4 April 2014

Tesco PLC - Directorate Change

The Board of Tesco PLC ("Tesco"), today announces that Laurie McIlwee, Chief Financial Officer and Executive Director, has decided to step down from the Board and resign from the Company but has agreed to remain in his role to ensure a smooth handover to his successor.  The Board is commencing a process to find a new Chief Financial Officer with both internal and external applicants being considered.

Sir Richard Broadbent, Chairman, said,

"I would like to thank Laurie for his contribution to Tesco over the last 14 years.  Together with Philip and the wider team, Laurie has played an important role in our process to transform Tesco and position it to be a winner in the new era of retailing.  I and the Board wish him every success for the future. "

Laurie commented

"I am proud of what we have achieved at Tesco over the last few years.  However, after 14 years at Tesco I feel that now is the right time for me to pursue new opportunities.  I wish Philip and the team well and I am absolutely confident that Tesco will emerge from the current period of unprecedented change in the industry stronger than ever."

Contacts:
Investors:	Chris Griffith	01992 644 800
Media:	Tom Hoskin	01992 644 645
	Brunswick	0207 404 5959

 

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