The UK’s number one supermarket Tesco is on the hunt for a new CEO of Retailing Services after Andrew Higginson announced his decision to retire from the position today.
A statement released by the grocer said that Higginson will be standing down from the role on September 1st 2012 after 15 years on the board.
The departing executive has held various roles at the company, including Finance & Strategy Director from 1997 to 2008, and has played a prominent part in Tesco’s expansion to Asia and its move into internet retailing in recent years.
CEO of Tesco Philip Clarke commented: “From 2008 in his services role Higginson has led the development of Tesco Bank and the extension of our online offer both to general merchandise and clothing and to Korea and Ireland.
“I respect Andy’s decision to move on and am grateful that he has given me sufficient notice to effect proper succession planning.”
Clarke has overseen a number of changes to Tesco’s senior team since assuming the CEO role from Sir Terry Leahy earlier this year, including the appointment of Internet Retail Director Ken Towle who currently reports to Higginson.
In replacing the departing retailing services chief, the Tesco boss will now have to decide whether to promote from within his existing senior team or find a new recruit from outside the business.
Higginson said today: “Next year, I will be 55 and will have completed 15 years on the Board of this great company.
“We will have completed the creation of the Bank as a standalone entity, and that seems an appropriate moment to hand over, and move on to the next phase of my career.”