Tesco’s finance chief to stand down
Tesco’s finance chief Laurie McIlwee announced his decision to resign from the company this month after 14 years with the retailer.
He would remain with the firm to ensure a smooth handover to his successor, Tesco said.
The announcement came following media speculation he had clashed with ceo Philip Clarke over certain aspects of the business strategy.
McIlwee said: “I am proud of what we have achieved at Tesco over the last few years. However, after 14 years at Tesco I feel that now is the right time for me to pursue new opportunities. I wish Philip and the team well and I am absolutely confident that Tesco will emerge from the current period of unprecedented change in the industry stronger than ever.”
Julian Wild, head of food and partner at law firm Rollits, told FoodManufacture.co.uk that the timing of his departure – so close to the firm’s annual results – was unusual and it was odd that no precise reason was given for his departure.