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Dave Lewis 'will sustain and improve' Tesco

The appointment of Unilever executive Dave Lewis as Tesco chief executive will bring the company a "wealth of international consumer experience", Tesco's chairman has said.

Sir Richard Broadbent said the company's board felt Mr Lewis' leadership would "sustain and improve [Tesco's} leading position in the retail market".

Mr Lewis is replacing current chief executive Philip Clarke, a Tesco veteran who worked his way to the top job after beginning on the shop floor.

The 49-year old has spent 28 years at Unilever, the company behind a huge range of household brands including Flora, Dove, Wall's and PG Tips.

He was previously Unilever's UK and Ireland chairman, then president for the Americas before moving to his current role as Global President, Personal Care.

Read: Tesco sales and profits 'somewhat below expectations'

Tesco sales and profits 'somewhat below expectations'

Philip Clarke's departure as Tesco chief executive follows a disappointing set of sales figures for the first half of this year, the company said in a statement.

The supermarket giant said "challenging" trading conditions and a weaker than expected market meant "sales and trading profit in the first half of the year are somewhat below expectations".

Tesco said the first half of this year has seen sales and profits 'below expectations'.
Tesco said the first half of this year has seen sales and profits 'below expectations'. Credit: Rui Vieira/PA Archive/Press Association Images

The company's chairman Sir Richard Broadbent paid tribute to Mr Clarke's achievements but said it was time for "a new leader with fresh perspectives and a new profile".

Mr Clarke said it was "the right moment" to hand over the reins and that he was "delighted" that Unilever executive Dave Lewis had been chosen as his replacement.

Read: Tesco chief executive Philip Clarke to step down

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Tesco chief executive Philip Clarke to step down

Tesco chief executive Philip Clarke is to step down in October, it was announced today.

Tesco's Chief Executive Philip Clarke.
Tesco's Chief Executive Philip Clarke. Credit: PA

Tesco announced that Dave Lewis is to join the Tesco board from October 1st as chief executive officer in succession to Philip Clarke.

Mr Lewis will receive a basic salary of £1.25 million along with standard benefits.

He will receive a sum of £525,000 in lieu of his current cash bonus from Unilever, where he worked in a variety of roles for almost 28 years.

Minister vows to 'slay health and safety culture'

Employees who hurt themselves by "doing something dumb" at work could lose the right to claim damages if their bosses have taken sensible precautions.

Chris Grayling says injury compensation claims have become 'a real headache' for firms.
Chris Grayling says injury compensation claims have become 'a real headache' for firms. Credit: Anthony Devlin/PA Wire/Press Association Images

The Justice Secretary, Chris Grayling, says employers who "do the right thing" should not have to face being sued because their employees have had an accident that is "entirely their own fault".

He is bringing through legislation in Parliament that he says is "out to try and slay the health and safety culture".

Speaking to the Sunday Telegraph, Mr Grayling says employees claiming compensation for workplace injuries has become "a real headache" for small businesses and can put them off taking on more staff.

"If we overdo the regulation and make people liable for things where common sense says they have got no responsibility then you just have fewer people in jobs and that can’t be right,” Mr Grayling argues.

Read: Prisoners who climbed on jail's roof offered sun cream

Foreign firms 'create 66,000 jobs in UK' over past year

Foreign firms have helped create more than 66,000 jobs in the UK in the past year, new figures reveal.

The 1,773 investment projects helped produce 66,390 jobs, according to the UK Trade and Investment (UKTI) 2013-2014 figures.

The United States led the way with investment in the UK with 501 projects in the past year ahead of Japan, France, Germany, Canada, China, India, Italy, Australia and Ireland.

England, Scotland, Wales and Northern Ireland all recorded increases in the number of investment projects and jobs created, UKTI said.

Trade Minister Lord Livingston said it had been an "exceptional year" for foreign investment with record project numbers.

Tesco 'to open fewer big stores' and build more homes

Tesco plans to respond to changing consumer habits by building fewer large stores and using some of the space saved to build more homes.

The supermarket giant has set out plans for 4,000 new homes, mainly at sites in Welwyn Garden City and St Albans, with developments also planned in the north and west of England.

A company spokesman said: "We have decided to reduce the amount of new store space we build each year, building fewer large stores. Where we no longer intend to develop sites, we sell them, lease them or develop them for housing."

Read: Tesco to build 4,000 homes on land set aside for stores

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