Booker Chief Takes Over Tesco UK & Ireland
Published on Mar 6 2018 10:40 AM
Tesco has appointed Booker chief Charles Wilson as the new head of its retail operations in the UK & Ireland.
This comes as the UK's largest retailer sealed the deal yesterday on its £4 billion takeover of wholesale group Booker.
Wilson has taken over the role from Matt Davies, who will move on to take the position of chairman for British fashion retailer N Brown, effective 1 May, 2018.
The cash and share deal was first announced in January 2017, but was given shareholder approval last week, after receiving the go ahead from the Competition and Markets Authority last December.
After the completion of the merger yesterday, Booker shares were de-listed from the London Stock Exchange, and over 1.5 billion New Tesco shares have been issued.
Stewart Gilliland, the former chairman of Booker, has been appointed to the Tesco board as a non-executive director.
Tesco CEO Dave Lewis said that the merger aims to create "the UK's leading food business". Tesco is already the largest retailer in Britain, with 27.8% market share, according to the latest figures from Kantar Worldpanel.
© 2018 - Checkout Magazine by Kevin Duggan