Report: U.S. CEO Exits Race for Tesco Job
London Tim Mason, CEO of Tesco’s Fresh & Easy stores in the United States, is not looking to succeed Sir Terry Leahy as head of Tesco, according toThe Financial Times.
The announcement ends years of speculation that the retailer’s second-in-command would step up to the top job when Sir Terry retires, the report said.
Mason said during a visit to some newly opened Fresh & Easy stores in the U.S. that he was not going to succeed Sir Terry, adding that the top job would go to a younger candidate.
The former marketing executive had been in the frame to succeed Sir Terry for some time, but speculation intensified three years ago when Sir Terry picked him to launch Tesco U.S.
The report noted that among the officers vying for the top spot are Phil Clarke, international director, and Richard Brasher, trading director. Yet, at 47 and 45 respectively, both men may be passed over for younger executives coming through the ranks. Tesco is likely to appoint someone who can comfortably sit through a 10-year tenure before hitting the age of 60.
New CFO Named at Shopko
Green Bay , Wis. Shopko on Thursday announced the appointment of Mary Meixelsperger to the position of senior VP and CFO.
Meixelsperger will be responsible for accounting, treasury, tax, planning and audit activities for the retailer.
Meixelsperger joined Shopko in August 2005 as VP, treasurer and was promoted to VP, controller in April 2006. Before joining Shopko, she served as CFO for the Credit Union National Association and Affiliates.
Deb Shops Names Questrom as Nonexecutive Chairman
Philadelphia Veteran retailer Allen Questrom, the former CEO of J.C. Penney, Federated Department Stores and Barneys New York, has been named nonexecutive chairman at Deb Shops Inc.
The announcement was made by Prospect Capital Corp., which has invested in the takeover of the formerly public Deb Shops this year by the Lee Equity Partners private-equity firm.