Incoming Tesco CEO’s ascent delayed
Tesco has confirmed that the ascent of Ken Murphy to the role of global CEO has been delayed by some months, in order for the Irish businessman to honour certain contractual obligations for his previous employer.
11 February 2020 | 0
The ascent of Ken Murphy to the role of Tesco CEO has been delayed, the company has confirmed. Murphy was announced as successor to Dave Lewis last year, and was due to take the reins in the summer. However, Murphy’s current employer, Walgreens Boots Alliance, has thrown a spanner in the works by insisting he see out certain contractual commitments. As a result, the Cork-born businessman will now take the reins on 1 October – one year after he was announced for the position.
In order to support Murphy’s smooth transition into the role, Dave Lewis has agreed to extend his time in the high-powered role until 30 September.
Dave Lewis’ time as Tesco CEO has been hailed a success; the company was in dire financial straits when he was appointed in late 2014, and in the midst of a damaging accounting scandal. Since taking over, Lewis has steered the company back to success where it now holds a strong 27.3% of the UK market*.
*(Source: Kantar, Great Britain Grocery Market Share – 12 weeks ending 26 January 2020)