UK: Tesco non-food director Price to leave
UK retail giant Tesco today (7 November) confirmed that Terry Price, commercial director of its non-food business, will step down from the company after 18 months in the role.
A spokesperson for Tesco said Price is retiring to the US. Neela Mukherjee, commercial director of its non-food online business, will take over responsibility for multi-channel non-food general merchandise, a company spokesperson told just-style.
The retailer has been trying to improve the performance of its general merchandise in the UK with new ranges, merchandising, pricing and promotions.
Separately, Tesco said Winnie Liu, chief operating officer of Tesco China, is also leaving.
Last month, the company reported an 11.6% fall in half-year pre-tax profit to GBP1.66bn (US$2.66bn), despite booking a 1.6% increase in group sales to reach GBP32.31bn.
Tesco said a GBP1bn investment plan launched earlier this year contributed to the decline during the six months to 25 August.
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