4th Apr 2014 06:31
LONDON (Alliance News) - Tesco Finance Director Laurie McIlwee is set to resign as early as next week, a move that will leave Chief Executive Philip Clarke as the only executive director on the company's board and under increasing pressure to improve performance, the Financial Times reports Friday.
The paper said McIlwee became the focus of investor disquiet in October after Tesco shocked investors by failing to signal a collapse in profits at its central European unit, and it quoted two people familiar with the matter saying he also clashed with Clarke over some areas of the company?s strategy.
Tesco declined to comment to the FT while Mr McIlwee could not be reached for comment, the paper said.
http://www.ft.com/cms/s/0/88ae2090-bb4f-11e3-b2b7-00144feabdc0.html#axzz2xtdcyFxB
By Steve McGrath; [email protected]; @SteveMcGrath1
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