Tesco chief executive to be replaced by Unilever boss

The chief executive of supermarket giant Tesco is stepping down in October, the company announced today.

Philip Clarke will be replaced by Dave Lewis, a top executive at consumer goods conglomerate Unilever.

Mr Lewis is in line for a £1.25m basic salary along with standard benefits.

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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. 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.

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