Colin Holmes has resigned as Tesco’s fresh foods commercial director, FPJ can reveal.
Holmes handed in his notice yesterday, a day after chief executive Sir Terry Leahy announced his surprise decision to step down next March. Holmes had been considered one of the leading candidates to replace Leahy, but missed out on the top job to international director Philip Clarke.
A Tesco spokesman said Holmes had been considering his position “for several months”. “Colin’s decided that rather than have one role he’d prefer to have a portfolio of business responsibilities,” he said. “That could involve some non-executive positions, but he also wants to achieve a different work-life balance.”
The spokesman played down rumours linking Holmes with Sainsbury’s, at least in a full-time capacity.
In a statement, Holmes said: "I have enjoyed my 22 years at Tesco and I am proud of what the company has achieved. My immediate focus is to smoothly hand over my current responsibilities after which I will be focusing on building a portfolio of business roles."
Holmes will leave Tesco at the end of July. No replacement as fresh foods commercial director has yet been announced.
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