The boss of Booker Group is to take control of Tesco’s British business after the companies’ planned £3.7bn merger next month.
Tesco said that Charles Wilson, 52, would replace Matt Davies as head of its retail and wholesale operations in the UK and Ireland. He also will become one of the combined group’s largest shareholders.
The FT adds that Wilson is credited with rescuing the wholesaler from the brink of collapse, building a profitable business that supplies independent merchants including tens of thousands of corner shops and some of the country’s leading restaurants.
Tesco also confirmed that trading had been in “line with expectations” and that it expects to make £1.57bn operating profit before exceptional items in the year to Feb 24. It will pay a dividend of 2p a share according to the Telegraph.
Click here for the full Times article (£)
Click here for the full Telegraph article
Click here for the full FT article (£)
Click here for the full Guardian article
Click here for the full Independent article
