Tescos boss gets the boot

By : Administrator
Published 21st July 2014 |
Read latest comment - 27th October 2014

Every little helps, and news of the departure of the Tesco CEO, Philip Clarke sent the share price up 3%.

According to the BBC: "Mr Clarke had been trying to revive Tesco's fortunes through a £1bn turnaround plan, but a trading update last month showed a 3.7% fall in like-for-like sales, which Mr Clarke admitted were the worst figures for decades."

Full story: BBC News

It's got to be tough and very dog eat dog when you take the top job for a public company. Investors are breathing down your neck, you are answerable to the board, everyone sings your praises when things are going good. Then you have some bad luck, make a bad call or a strategy didn't work as well as you like, and the knives are out...

The reality of Corporate big business! I'm sure Mr Clarke has been well compensated though, and no doubt will soon be at the helm of another retail chain. CEO of Tesco's has to look good on your linked in profile


Steve Richardson
Gaffer of My Local Services
My Local Services | Me on LinkedIn
Comments

Now it's the chairman!

"Tesco chairman Sir Richard Broadbent has announced that he will be leaving the firm, following the firm's announcement of a bigger-than-forecast hole in its profits."

BBC News Article

Pretax profit is apparently down 90% versus the same period last year!

wow 90%!!! 

Certainly been a tough year for Tescos...


Steve Richardson
Gaffer of My Local Services
My Local Services | Me on LinkedIn

Haha: "bigger-than-forecast hole in its profits" --- If that's not understatement of the year I don't know what is!


Tom Buckland
SEO Consultant

This Thread is now closed for comments