Tesco CEO Terry Leahy to retire in 2011
London Sir Terry Leahy is stepping down as CEO of Tesco next year after 14 years leading the world’s third-largest retailer.
The company said Tuesday that Philip Clarke will take the top job after Leahy departs in March 2011. Clarke currently directs Tesco’s expanding international operations.
Under Leahy’s tenure, Tesco has grown from the U.K.’s second-biggest supermarket operator to the largest with over 30% market share, and a major international player with operations across central Europe and Asia. It also started a small U.S. operation in 2007 — Fresh & Easy — and has 125 convenience stores in California.
“When I became CEO, I had a plan to build Tesco around its customers, to make it number one in the U.K. and to find new long-term growth in non-food, in services and in international expansion,” Leahy said. “It has taken 14 years, but that strategy has become a firm reality now and so I feel my work is almost complete.”
Leahy said his departure wouldn’t signal a change in strategy, which is centered on entering new products such as financial services and telecommunications in the United Kingdom and new markets abroad, according to the Wall Street Journal.
Following his retirement, Leahy said he will concentrate “mainly on private investment” and will keep a large shareholding in the U.K. supermarket group. “My interests will be around business generally, both here and abroad,” he said.
He added that he won’t be taking a non-executive position on the Tesco board, but declined to comment on whether he would take on such a role at another company. “It is too early to say,” he said.
Clarke joined Tesco’s board in 1998. Besides being responsible for the company’s international businesses in Asia and Europe, he also heads the group’s information-technology operations. Clarke is also a non-executive director at U.K. pub group Whitbread PLC.
B&N, Pandigital bring color to e-book experience
DUBLIN , Calif. (May25) Barnes & Noble has partnered with Barnes & Noble to offer the Pandigital Novel, a 7-inch e-reader with integrated Barnes & Noble e-bookstore, full color touch-screen display, Wi-Fi connectivity, and multimedia capabilities, Pandigital announced.
Through the partnership, Pandigital Novel cutsomers will have access to Barnes & Noble’s full e-bookstore catalog and be able to share content with others using Barnes & Noble’s LendMe technology.
"First and foremost, the Pandigital Novel e-reader was designed to deliver a world-class e-reading experience," said Dean Finnegan, CEO and founder of Pandigital. "By focusing on delivering superior content from Barnes & Noble, an easy-to-use design and an excellent customer experience, Pandigital is delivering a value proposition not currently available in the eReader category. With its many additional features, Pandigital Novel customers will be able to read what they want and do more of what they want on the go with an affordable product that is simple and fun to use."
Bach to retire from Microsoft
Microsoft announced that Robbie Bach, president of the entertainment and devices division, will retire from the company this fall.
The company announced that SVP Don Mattrick will continue to lead the interactive entertainment business and SVP Andy Lees will continue to lead the mobile communications business. Each will report directly to CEO Steve Ballmer effective July 1.
"For the past 22 years, Robbie has personified creativity, innovation and drive. With this spirit, he has led a division passionately devoted to making Microsoft successful in interactive entertainment and mobility," Ballmer said. "Robbie’s an amazing business person and close personal friend, which makes his departure a point of sadness for me. However, given the strong leadership team he has built, the business performance of E&D this year and the launches of Windows Phone 7 and ‘Project Natal’ this fall, we are set up well for success as we continue to drive our mobile and entertainment businesses forward."