News that Tesco is to review the future of its loss-making US business Fresh & Easy, and part ways with his highly-regarded deputy CEO Tim Mason, once more demonstrate boss Philip Clarke’s ability to take the tough decisions, but the move will ask as many questions as it will answer.
News that Tesco is to review the future of its loss-making US business Fresh & Easy and part ways with his highly-regarded deputy CEO Tim Mason once more demonstrate boss Philip Clarke’s ability to take the tough decisions, but the move will ask as many questions as it will answer.
Pressure to withdraw from the US has intensified since the UK operation went into decline and whilst any exit will be costly, it will be broadly welcomed and release funds to continue the domestic turnaround. Of more concern will be Clarke’s decision to end Mason’s 30-year Tesco career. The list of high profile departures from the company continues. Whilst Clarke can now truly claim to have his own team in place, he is more exposed than ever if the company’s fortunes don’t improve.
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