Directorate Change

RNS Number : 3016M

Tesco PLC

27 January 2009

 

Tesco PLC

27 January 2009

TESCO ANNOUNCES APPOINTMENT OF NEW GROUP FINANCE DIRECTOR

Tesco plc today announces the appointment of Laurie McIlwee as Group Finance Director, with effect from 27 January 2009. Laurie has been at Tesco since December 2000, most recently as Distribution Director.  

Laurie's appointment follows Andrew Higginson's previously announced move to become Chief Executive of Retailing Services. Andy will lead the expansion of our services business following the Group's acquisition of full ownership of Tesco Personal Finance. Andy will also retain his responsibilities for Tesco Group strategy.

Commenting on the appointment, Tesco CEO Sir Terry Leahy said:

'I am delighted that Laurie is joining the Tesco Board. His appointment is a great example of the strong internal talent coming through the business at every level. Laurie has a strong track record here and overseas and is highly respected. He has a great grasp not only of finance, but of operations and strategy. His appointment will further strengthen our Board and support our plans for the long-term growth of the Group.'

NOTES FOR EDITORS:

Laurie McIlwee, 46, a Chartered Management Accountant, joined Tesco in December 2000 as UK Finance Director. He became Distribution Director In January 2005 and has successfully driven a number of key change programmes within the division and greatly increased its productivity.

Before joining Tesco Laurie spent nine years at PepsiCo Inc, holding a variety of roles in the UK and overseas including Vice President, Business Planning at Frito-Lay International, CFO and Business Change Director at Frito-Lay Europe, Chief Financial Officer of Walkers Snack Foods and Finance Director of Pepsico Eastern Europe.  

Laurie is married with six children.  

There is no other information required to be disclosed pursuant to LR 9.6.13R in respect of Mr McIlwee.

Andrew Higginson, 51, joined the Board as Group Finance Director in 1997, and added Group Strategy to his responsibilities in 2003. Prior to joining Tesco Andy was Finance Director of the Burton Group. He started his career at Unilever and Guinness, before becoming Group Finance Director of Laura Ashley. He is a member of the 100 Group of Finance Directors and a Non-executive Director of BSkyB.

This appointment follows the recently announced appointments of Patrick Cescau, Ken Hanna and Jacqueline Tammenoms Bakker as Non-executive Directors.

ENDS

Contacts:

Media Enquiries:    Jonathan Church        Tel:     [phone]

                                    Angus Maitland        Tel:    [phone]

Investor Enquiries:      Steve Webb            Tel:    [phone]

 

END

 

 

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