Tesco has made two significant changes to its leadership team, with the appointment of new CEO's for both its Asian and European businesses.
Tony Hoggett to become CEO of Tesco Asia
Tony Hoggett, the existing chief operating officer for Tesco in the UK, has been promoted to CEO for the retailer's Asian business. Hoggett joined Tesco in 1990 and has extensive operational experience in both the retailer's domestic and international markets. Having started out managing stores in the UK, Hoggett then worked as a stores director, before moving to China in 2007 to head up the retailer's business in the south of the country, followed by a period as COO for its operation in Turkey. In 2011, he returned to the UK to continue operational roles, helping stabilise the performance of Tesco's domestic business.
Matt Simister to head up European operations
Matt Simister, who currently is commercial director for fresh food and private label sourcing, buying and supply chain across the group, will become CEO of Europe. Simister, who joined Tesco in 1996, is well position to take up the role, having overseen Tesco's global business unit and before that spending three years as commercial director for Tesco's Czech Republic and Slovakian operations. Both new CEO's will take up their positions from 1 April 2017.
Existing International CEO to leave the business
Existing International CEO, Trevor Masters, who has worked for the retailer for 38 years, is to step down from the business at the end of May. The new roles will help Tesco better carry out its strategy to build synergies across its regional markets in both Europe and Asia. Tesco said that, the sale of its Turkish business Kipa, has allowed it to now put greater focus on the two separate parts of its international business. Tesco CEO, Dave Lewis, commented, "I’d like to thank Trevor for everything he has done for our business over the last four decades. Tony and Matt’s work has been at the heart of Tesco’s turnaround over the last two years and I’m delighted that they will join our Executive Committee."
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