Bloomberg News

Tesco Promotes U.K. Property Head Grace to Group Commercial Role

December 07, 2011

Dec. 7 (Bloomberg) -- Tesco Plc, the world’s third-largest retailer, promoted U.K. Property Services Director Kevin Grace to the new position of group commercial director and appointed him to the executive committee.

Grace, whose previous roles include chief executive officer of Cheshunt, England-based Tesco’s Polish division and chief operating officer in South Korea, will report directly to CEO Philip Clarke, according to an internal memorandum obtained by Bloomberg. He has been U.K. property services director since 2006.

The executive, who joined the company 29 years ago, will help the supermarket chain improve how it obtains products and services globally, according to the memo. John Hoerner, who will continue to act as an adviser to Clarke, will “hand over” to Grace, according to the document, which didn’t say when the appointments will take effect.

Hoerner was brought in to advise Clarke on the global sourcing of Tesco’s non-food products, the Financial Times reported on Sept. 25.

--Editors: Tom Lavell, Robert Valpuesta

To contact the reporter on this story: Sarah Shannon in London at sshannon4@bloomberg.net

To contact the editor responsible for this story: Sara Marley at smarley1@bloomberg.net


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