MARKET TALK: Tesco CEO Retirement A Surprise - Shore

8th Jun 2010 08:37

0737 GMT [Dow Jones] The retirement of Tesco's (TSCO.LN) chief executive is a surprise, but also increases visibility on the future of the company, Shore Capital analysts say. "The timing comes as a surprise. We were expecting him to go in the medium term, but it also removes the biggest question mark over Tesco," analyst Darren Shirley says. "We have got visibility in the handover. It should be a pretty seamless transition." Shirley adds the market would have no doubts about Sir Terry Leahy's successor, Philip Clarke. Says: "You don't build up a business the size of Tesco without a very capable team." Buy rating. Shares -1.5% at 401p. ([email protected]) Contact us in London. +44-20-7842-9464 [email protected] (END) Dow Jones Newswires June 08, 2010 03:37 ET (07:37 GMT)