UK retailer Tesco has confirmed the shock departure of its fresh foods commercial director, Colin Holmes, just a day after it was announced that chief executive Sir Terry Leahy will be stepping down next March.
'Colin's decided that rather than have one role he’d prefer to have a portfolio of business responsibilities,” a spokesman told the Fresh Produce Journal. “That could involve some non-executive positions, but he also wants to achieve a different work-life balance.”
Mr Holmes, who joined the company 22 years ago, had been tipped as a possible eventual successor to Sir Terry prior to this week's announcement that Philip Clarke, currently international and IT director, would be taking on the role.
According to one leading UK-based fresh produce supplier, Mr Holmes is understood to have reconsidered his future within the business after being overlooked for the top job.
'When he returned it was widely suggested that he was heir apparent to Terry Leahy,' he commented, 'so I guess that the fact that he has now not got the top job has meant that he has genuinely decided to look at his work/life balance.'
Mr Holmes, who took a 12-month sabbatical a few years ago in order to spend more time with his family, had also been linked with the job of running Tesco's UK business, a role that has now been handed to his direct boss, Richard Brasher.
Four years ago, he was rumoured to be in the running for the CEO position at rival group Morrisons in 2006. The post eventually went to Marc Bolland, now CEO of Marks & Spencer.
According to the Financial Times, his resignation will be a blow to Tesco as it tries to foster solidarity among its most senior staff members in preparation for Sir Terry's departure in the spring.
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