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Tesco chief to retire after 14 years at top

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LONDON (AFP) – Tesco said on Tuesday that its long-serving chief executive Terry Leahy would retire next March after transforming the supermarket group into Britain's biggest retailer and a global force.

Leahy, who turned Tesco from a solid British food retailer into a worldwide operation also selling electrical items, clothes and financial products, will be replaced by its head of Asian, European and IT operations Philip Clarke.

Last Updated ( Friday, 11 June 2010 16:46 ) Read more...

Wal-Mart sets $15 billion buyback

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FAYETTEVILLE, Arkansas (Reuters) – Wal-Mart Stores Inc plans to buy back $15 billion more of its shares and expects to add over 500,000 employees in the next five years as it increases its global presence.

At the same time, the discounter is working to turn around sales in its U.S. Walmart business, which have fallen at existing stores for the past four quarters, Chief Executive Mike Duke said at the company's annual shareholder meeting.

Last Updated ( Friday, 11 June 2010 16:43 ) Read more...

Tesco CEO Terry Leahy will retire in March

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LONDON – Shares in Tesco PLC, the world's third largest retailer, slipped Tuesday after it announced its chief executive would step down amid the company's expansion into the United States.

Last Updated ( Friday, 11 June 2010 16:43 ) Read more...
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