Tesco finance chief Alan Stewart to step down

Tesco finance boss Alan Stewart has revealed plans to retire from his role at the UK’s largest supermarket.

The move will deliver a major leadership shake-up at the business, with current chief Dave Lewis set to step down from his own role in September.

The pair led a significant turnaround at the retail giant after it was dented by a major accounting scandal in 2014.

Mr Stewart will leave his role as chief financial officer on April 30 2021, after six years at the company.

Tesco financials
Mr Stewart was finance boss at Tesco during its turnaround following an accounting scandal in 2014 (Nick Ansell/PA)

Tesco said it will now conduct a “thorough” search, looking at internal and external candidates, to find his successor.

Mr Lewis, group chief executive officer at Tesco, said: “Alan has been an outstanding leader and partner at Tesco.

“He has made a huge contribution and on behalf of all of Tesco colleagues I would like to thank him for all he has done.”

Mr Stewart said: “Being part of the team that has delivered the turnaround at Tesco and set it up for the next stage means an incredible amount to me.

“I shall continue to focus on delivering the strategy, supporting the business and my colleagues through the next 11 months, knowing that the business is in a strong position as we move forward.”

Chairman John Allan said: “Alan has made an impressive and sustained contribution both as chief financial officer and as a board member to Tesco’s turnaround.

“On behalf of the board I would like to thank him for his continued contribution and, when the time comes, wish him well for the future.”

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