Tesco's current chief operating officer Chris Bush is the frontrunner to replace Philip Clarke as CEO, according to media reports.
It has been reported that an announcement could be made as early as January, when the retail giant is expected to release its Christmas and new year trading results.
Clarke has been CEO of Tesco since March 2011 and was tasked with reviving the retailer following its first profit warning in 20 years last January.
“This would be a tremendously important appointment for Philip Clarke and the group because the UK is the biggest profit centre and the whole group needs Mr Clarke’s care and attention,” said Clive Black, analyst at Shore Capital.
Bush's appointment would free up Clark to focus on the Asia and Central Europe side of Tesco's business operation.
