Make your money go further for just 25p per day

What is Drastic Dave’s Tesco legacy?

02/10/2019 · Tesco (TSCO) 

FTSE 100 Retail UK

Dave Lewis chief executive at Tesco in front of Tesco branding

Five years at the helm of Britain’s biggest supermarket haven’t always been easy, but consensus says that Dave Lewis has done an excellent job.


Eyebrows were raised when Tesco’s (LON: TSCO) then-chairman Richard Broadbent appointed ‘marketing man’ Dave Lewis into the top job at Britain’s largest supermarket in 2014. Tesco needed an image change after a series of profit warnings and 33% one-year share price drop, and ‘Drastic Dave’ – known for his ruthless approach to job cuts and excellent marketing strategies while head of personal care at Unilever (LON: ULVR) – was Mr Broadbent’s chosen leader.

The extent of the necessary image overhaul was made clear just 22 days into Mr Lewis’ tenure, when he revealed an accounting miscalculation which left a £263m hole…

Sign up and read the full article

Register to continue reading this article.

Get FREE access now

Already a member? Login


Previous article Next article

Have your say

Log in or register to view or add comments.

For access to the top news and insights from the investment world

REGISTER FREE TODAY

Become a Champion Investor for as little as £3.20 per report or get a year's worth of money-making analysis for just £90.

START FREE TRIAL

More on Tesco

Weekend round-up: Six big business stories you don’t want to miss

04/10/2019 · News & Insights

Stock markets shattered on Wednesday, welcoming a woeful start to Q4 which feels worryingly familiar. Here…


What is Drastic Dave’s Tesco legacy?

02/10/2019 · News & Insights

Five years at the helm of Britain’s biggest supermarket haven’t always been easy, but consensus says…


More News & Insights

Was Woodford wronged?

US earnings preview: watch out for these five key stories

15/10/2019 · Alphabet · Amazon · Apple · Comcast · Facebook · Microsoft · Netflix · PayPal

Weekend round-up: 5 big business stories you don’t want to miss