Tesco Replaces CEO Clarke as Grocer Suffers New Profit Blow
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Tesco Plc replaced Chief Executive Officer Philip Clarke after first-half profit trailed the grocer’s expectations, the latest in a series of setbacks since the company veteran took the helm about three years ago.
Dave Lewis, who as head of Unilever’s personal-care unit has led the expansion of the British-Dutch company’s fastest-growing business, will succeed 54-year-old Clarke on Oct. 1, the Cheshunt, England-based supermarket operator said today.