Tony Reed, the boss of Tesco’s convenience store empire, will be stepping down from the company.
According to The Grocer, the “Tesco lifer” is set to leave the chain after 38 years. Having started stacking shelves in 1978, he eventually became CEO of One Stop in March 2011, when the Tesco subsidiary bought Mills Group. In his own words, he was “thrown in at the deep end.”
Just over a year ago, Reed took charge of Tesco’s convenience store operations as part of the management shake-up instigated by Dave Lewis. For the year to February 2015, One Stop saw sales rise by 17.2% to reach £925m, despite Tesco’s falling fortunes at the time.
“Tony has made a huge and varied contribution to our business throughout his 38-year career at Tesco and we wish him every success for the future,” a Tesco spokesperson said, adding that a successor would be chosen in due course.