Leahy predicts swift Tesco revival

Leahy predicts swift Tesco revivalFormer Tesco boss Sir Terry Leahy has backed new chief executive Dave Lewis to turnaround the business swiftly, claiming the supermarket giant “is very responsive to the right leadership and the right marketing strategy”.
According to a report in The Sunday Times, Leahy made the remarks in a private conference call arranged by Bank Of America Merrill Lynch for City clients.
He went on to claim Tesco had lost its way under his successor Philip Clarke – who was axed earlier this year and replaced by Lewis (pictured) – by focusing “too much on what it isn’t, rather than remembering what it is and working with that”.
He also slammed the supermarket chain’s data strategy under Clarke, echoing DunnHumby co-founder Clive Humby’s recent criticism. Leahy said Tesco was at its best when it used consumer insight to innovate and respond to trends.
He added: “Perhaps it hasn’t emphasised that enough, used that strength enough. And it’s interesting, listening to Dave Lewis…To the extent he’s had an opportunity, he has emphasised the need to focus on customers.”
Leahy has also emerged as a potential matchmaker for DunnHumby following reports that one of the firms he advises – buyout specialist Clayton Dubilier & Rice – is eyeing up the data giant.
Valued at up to £2bn, DunnHumby is said to be at the top of Tesco’s potential “for sale” list, along with other assets including Blinkbox, Giraff, Harris + Hoole, Tesco Bank and Dobbies garden centres. It has already been claimed that US private equity buyout specialist TPG has had one bid for the company rejected.

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1 Comment on "Leahy predicts swift Tesco revival"

  1. Sir Terry Leahy predicts swift Tesco revival under Dave Lewis http://t.co/cwXOgrVnG0 #directmarketing #digitalmarketing #CRM #loyalty

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