Tesco boss Dave Lewis in shock departure

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Reuters

Tesco has announced that its chief executive Dave Lewis is stepping down after five years in the role.

Mr Lewis said the decision was “personal one” and Tesco chairman John Allan said he had accepted the resignation with “regret”.

He will be replaced by Ken Murphy, who has held senior positions at Walgreens Boots Alliance.

His departure was announced as Tesco reported a 6.7% rise in first-half profits to £494m.