LONDON, Sept 7 (Reuters) - Tesco said Charles Wilson, the executive director who leads its Booker wholesale business, will retire in February next year, joining the CEO and finance chief in announcing their departures from Britain’s biggest retailer.
Wilson, who is in remission from throat cancer, was CEO of Booker when it was acquired by Tesco for nearly 4 billion pounds ($5.3 billion) in 2018 and has led the business for 15 years.
“It is time to take things a little easier,” said Wilson, who will be succeeded by Andrew Yaxley, currently Tesco’s chief product officer.
Tesco’s CEO Dave Lewis, who last year declared the group’s turnaround complete, is due to step down at the end of September and be replaced by Ken Murphy, a former executive at healthcare group Walgreens Boots Alliance.
In June Tesco’s finance chief Alan Stewart announced he would retire next April.
Tesco’s purchase of Booker gave Wilson a 1.1% stake in Tesco, making him the group’s 12th biggest shareholder, according to Refinitiv data.
“I will not be selling any Tesco shares in the next few years and will remain a committed supporter of the company,” Wilson added.
Yaxley will be succeeded as chief product officer by Ashwin Prasad, who is promoted from his current role as commercial director for packaged food.
Reuters Breakingviews is the world's leading source of agenda-setting financial insight. As the Reuters brand for financial commentary, we dissect the big business and economic stories as they break around the world every day. A global team of about 30 correspondents in New York, London, Hong Kong and other major cities provides expert analysis in real time.
Sign up for a free trial of our full service at https://www.breakingviews.com/trial and follow us on Twitter @Breakingviews and at www.breakingviews.com. All opinions expressed are those of the authors.