Tesco today (February 5) confirmed that Booker CEO Charles Wilson will be appointed as CEO of Tesco’s retail and wholesale operations in the UK and Republic of Ireland once the two companies’ £3.7bn merger is completed.
Matt Davies will continue as CEO of UK & ROI until completion, at which point he will step down and, after supporting a handover, will leave the group at the end of April 2018. The UK and ROI represents about 80% of Tesco’s total business.
Tesco boss Dave Lewis commented: “I am delighted Charles will be joining the Tesco board and executive committee. He brings substantial commercial and retail experience and has an exceptional track record of increasing performance and driving growth in customer-focused businesses. Charles is ideally suited to lead the UK & ROI business for the combined group in the next phase of our turnaround.
“I would also like to thank Matt for his outstanding contribution to Tesco over the last three years. 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. I wish him well for the future.”
Tesco confirmed the move ahead of the publication of a prospectus relating to its £3.7bn takeover of Booker. The deal now only needs to be approved by shareholders, following a thumbs-up from the competition authorities.
The document will contain information on the background and reasons for its proposed merger with Booker Group.