Tesco officials named Dave Lewis CEO of Tesco, a UK based food retailer, earlier this week. Lewis will assume the role of CEO effective Oct. 1. He replaces Philip Clarke.
Trading conditions have been more challenging than anticipated since financial results were last reported in early June, said company officials. “The overall market is weaker and, combined with the increasing investments we are making to improve the customer offer and to build long term loyalty, this means that sales and trading profit in the first half of the year are somewhat below expectations,” a Tesco representative said.
Lewis is the global president for Unilever, where he worked in various roles for 28 years.
Clarke will continue to serve as CEO until Oct. 1, when he will assume a support role through January. Clarke was appointed CEO in 2011.