Tesco

UK retail giant Tesco has named Trevor Masters as the new head of its Asian business following David Potts' decision to retire, reports Reuters.

Masters, who is currently head of Tesco's business in continental Europe, has been appointed CEO Asia.

Gordon Fryett will succeed Masters as CEO Europe, retaining his group property role, Reuters said.

Potts will work on projects for group CEO Philip Clark before retiring at the end of June next year. He has worked for Tesco for 39 years.