Tesco has appointed the COO of its Korean supermarket banner, Homeplus, as the new CEO of its operations in Malaysia.
According to a report in the Korea Herald, the appointment of Do Sung-hwan to the position in Malaysia is first time an executive with Homeplus has been appointed to head an overseas unit of Tesco.
“Selecting a Korean executive as the CEO of one of Tesco’s overseas branches indicates the Tesco group has recognised the achievements of Homeplus over the past 12 years,” Homeplus CEO Lee Seung-han told the newspaper.
Mr Do began his career with the Samsung Corporation in 1981. He was later appointed supervisor at the first Homeplus branch in Daegu. Homeplus is a joint venture between Samsung and Tesco, although Tesco holds a 95 per cent shareholding in the company.
Tesco Malaysia was established in 2002, according to the newspaper, and operates 38 stores employing 11,000 people. Last year it generated sales worth US$1.3bn.
