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Tesco boss Dave Lewis to step down next year

Tesco boss Dave Lewis to step down next year

Business
Tesco chief executive Dave Lewis is to step down next year, the supermarket giant has announced.Chairman John Allan said he had accepted the decision "with regret" after Mr Lewis decided he wanted to leave in the summer of 2020. The chief executive said his decision was a "personal one" and that it was "the right time to pass the baton" having completed a turnaround of Britain's biggest supermarket.He was described by one leading analyst as "the bloke that saved Tesco".Mr Lewis joined Tesco in 2014 as it suffered sliding sales and a series of profit warnings - and just weeks into the job had to deal with the fall-out as the company disclosed a big accounting black hole. Advertisement His announcement came a...
British Gas firm’s shares at 21-year low as boss to step down

British Gas firm’s shares at 21-year low as boss to step down

Business
By James Sillars, business reporter Shares in British Gas parent Centrica are trading at levels not seen since 1998 after it reported a slew of negative news and said its chief executive was to go.Iain Conn, the company said, would "step down" next year following an "exceptionally challenging" period. The announcement was made alongside financial results which showed Centrica had swung to a £446m loss in the first six months of the year compared with profits of £704m in the same period last year.It blamed a string of problems including the impact of the price cap on default energy tariffs, warm weather and a further bleeding of 178,000 customers from its British Gas arm.Centrica said Mr Conn had "agreed with the board" to remain in post "to drive the r
TSB boss Paul Pester to step down after IT fiasco

TSB boss Paul Pester to step down after IT fiasco

Business
TSB chief Paul Pester is to step down after seven years in charge, in the wake of a major IT failure at the bank.In April this year, customers were left without access to online banking services for several weeks when an attempt to move data to a new computer system went wrong.The bank is still struggling to get its IT systems to work properly.On Monday, it apologised to customers who faced disruption to their online and mobile banking over the weekend.Following Mr Pester's departure, TSB chairman Richard Meddings will take on the role of executive chairman until a new chief executive is appointed.Mr Meddings said: "Although there is more to do to achieve full stability for customers, the bank's IT systems and services are much improved since the IT migra...