Tesco director to retire

Tesco has announced that Andrew Higginson, chief executive of retailing services, will retire from the board and executive committee on 1 September 2012.

Chief executive Philip Clarke said “I’d like to thank Andy for his contribution to the growth of Tesco over the last 14 years. Andrew was an outstanding finance and strategy director from 1997 until 2008.

“He also made an important contribution to our moves into Asia and onto the internet. From 2008 in his services role, he has led the development of Tesco Bank and the extension of our online offer both to general merchandise and clothing and to South Korea and Ireland. I respect Andy’s decision to move on and am grateful that he has given me sufficient notice to effect proper succession planning.”

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