Published: Вт, Февраля 06, 2018
Markets | By Noel Gibbs

Booker chief to lead Tesco's United Kingdom business

Booker chief to lead Tesco's United Kingdom business

Ahead of the publication of its prospectus on the deal, which Tesco said should be complete by March 5, it revealed that Mr Wilson would replace Matt Davies as its United Kingdom chief.

The news comes after the Competition and Markets Authority cleared Tesco's merger with Booker in December, with the tie-up now pending shareholder approvals.

Matt Davies will step down after three years in the role, staying on to complete a handover before departing at the end of April.

Tesco has appointed Booker Group boss Charles Wilson as the new CEO for its United Kingdom and Ireland retail and wholesale operations.

Tesco is buying Booker in the boldest move yet by its Chief Executive Dave Lewis, who took over in 2014, providing the supermarket group with access to the faster growing catering segment of Britain's 195 billion pound food market.

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Wilson has been CEO of Booker since 2007, becoming an executive director in 1998, two years before the company merged with Iceland.

Booker boss Charles Wilson is to lead Tesco's United Kingdom retail operations when the merger of the two businesses completes. His values based leadership and invaluable support have been instrumental to the significant progress we have made in the transformation of the UK & ROI business.

Tesco's £3.7bn takeover of the wholesaler Booker is expected to complete next month. "I wish him well for the future".

Ahead of the publication of the circular and prospectus for its 3.7 billion pounds ($5.22 billion) takeover of wholesaler Booker, Tesco said it had traded in line with management expectations since it last updated on January 11.

In addition to the changes in senior management, Tesco also announced a profit forecast of at least £1.57bn for financial year to 24 February 2018 and the intention to propose final dividend of 2p per share.

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