Britain''s biggest retailer Tesco said on Monday that chief executive Philip Clarke will step down later this year from the troubled supermarket giant, which has also issued a profits warning. Clarke, 54, who has been at the helm for three years, will be replaced in October by outsider and Unilever director Dave Lewis, Tesco said in a statement, as the embattled group struggles with what it described as "challenging" trading conditions.
"Tesco plc announces that Dave Lewis will join the board of Tesco on 1 October, 2014 as chief executive officer in succession to Philip Clarke," the company said.