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Tesco' trio is to transform

Envoyé par: dmt1997325 (Adresse IP journalisée)

Date: Wed 8 August 2018 12:42:46

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LONDON, Feb. 25 (Xinhua) -- David Potts has proved it's still possible in the business world to start at the very bottom, and work your way to the very top.

The 57-year-old started work in 1973 earning a few dollars a week as a shelf-stacker with British supermarket giant Tesco.

Today he was named as the new CEO of one of Britain's big-four retail chains, Morrisons, with an annual salary of more than 1.3 million U.S. dollars, and a string of benefits.

Born in a suburb of Manchester, Potts climbed the ranks in his long career with Tesco, leading to his biggest role as CEO of Tesco's Asian arm.

His arrival at Morrisons comes after a top-table shake-up which led to the recent appointment of a new company chairman, Andrew Higginson and chief financial officer Trevor Strain - both of them previous high flying executives at Tesco.

The task of the 'Tesco' trio is to transform the fortunes of Morrisons which has had a bumpy ride in the past year against its rivals, Tesco, Asda (part of US-based Walmart) and Sainsburys.

Morrisons has been battling falling sales, and has been criticised for being slow in moving into the convenience store sector and setting up an online operation.

Both Potts and Higginson are from the same small northern town, Bury in Greater Manchester, and both quit Tesco when the legendary CEO, Sir Terry Leahy - another man who rose to the top from a lowly shop floor job.

Morrisons' chairman Andrew Higginson, welcoming his former Tesco colleague to his new role described Potts as "the best retailer I have worked with in 25 years in the industry".

Potts was Tesco's longest-serving director, starting out as a lowly shelf stacker in 1973 before rising through the ranks and becoming chief executive of its Irish businesses in 1997. He then joined the Tesco board and was first responsible for the company's Stores and Supply Chain business before coming chief executive of its Asian business.

A dedicated fan of Premiership club Manchester City, Potts commented: "Morrisons is a great British business with real potential and it is an honor to have been selected."

Morrisons started life in 1899 as a family business selling eggs and butter from a market stall in Bradford where the company is still headquartered. It has more than 600 stores across England, Wales and Scotland.

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Re: Tesco' trio is to transform

Envoyé par: zhangmeng55 (Adresse IP journalisée)

Date: Thu 21 March 2019 00:30:54