Dive Brief:
- Tesco's chief executive officer Dave Lewis announced a reshuffling of the senior management team and said he would take control of operations himself.
- In addition, Lewis said that four of the executives who had been suspended during an investigation into an accounting scandal that cost the grocer some $402 million have left the company permanently. Three other executives remain suspended.
- Lewis also announced new bosses for the retailer's communications, business transformation, and customer service departments.
Dive Insight:
Now it's starting to be clear how Lewis earned the moniker "Drastic Dave." It's only been 12 weeks since the former Unilever executive was brought in to clean house, and Tesco is already a drastically different business, at least at the top. But given the sheer size and scope of Tesco's problems, it seems likely that more severe steps lay ahead.