Tesco’s leader will retire next year

The UK food chain Tesco has announced, that Sir Terry Leahy, President and CEO will retire in March next year.

Sir Terry Leahy, was the head of the company for 14 years and supervised the rise of the company to the leading food chain of the British Isles. His successor will be Philip Clarke, Tesco’s Information Technology Director.
According to BBC; Sir Terry Leahy gained 5.2 million pounds income last year, and indicated that he will still hold his large share in Tesco, after his departure. The company's shares fell by 1.7 percent after the notification – reports Világgazdaság Online, after BBC News.