Tesco has moved to quash industry rumours that key executives from its US venture are returning to the UK.
US market speculation had suggested Tesco was sending home its top-level managers from Fresh & Easy and is looking to recruit a US chief executive. One US insider told freshinfo that several candidates have already been sized up for the job.
But Tesco told freshinfo this is not the case. “Tim Mason and his team are not coming back from the US,” a spokeswoman said. “There is absolutely no truth in the rumours at all.”
Analysts have been watching Tesco’s foray into the US market extremely closely and one of the main criticisms was Tesco’s decision to appoint a UK ceo with limited US experience rather than a local.
US market-watchers have also been keen to point out that Tesco has trouble at home with
pressure from a Morrisons revival and a solid Asda, and that the strong team sent to the US could be needed back home, while more cynical observers believe the top-level team could be brought back before their reputations are tainted by a Fresh & Easy failure.
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