Tesco CEO Dave Lewis to step down as turnaround nears completion

Tesco In its interim results statement for the first half, Tesco Group said, sales grew by 0.1 percent at actual rates, including a 0.5 percent foreign exchange translation benefit due to the depreciation of Sterling to 31.1 billion pounds (38.1 billion dollars). At constant rates, the company added, sales grew in all regions apart from Central Europe. Tesco said that all regions were impacted by actions to refocus the general merchandise offer on sustainable, profitable categories, with total group sales impacted by 0.4 percent as a result. The company also announced departure of the current CEO Dave Lewis, who is stepping down next year. Ken Murphy has been appointed as successor.