MARKET TALK: Tesco New CEO Appointment Good - Charles Stanley

8th Jun 2010 11:49

1049 GMT [Dow Jones] The appointment of Philip Clarke as successor to Tesco (TSCO.LN) CEO Terry Leahy, who will retire in March '11, is a good one, says Charles Stanley. Notes that Clarke, while relatively unknown to investors, is currently board director responsible for international operations in Asia and Europe and IT, and has had a lengthy and successful career at Tesco. Charles Stanley expects his approach to be evolutionary and does not anticipate any radical departures from current strategy. Has the stock at accumulate. Shares -2.6% at 397p. ([email protected]) Contact us in London. +44-20-7842-9464 [email protected] (END) Dow Jones Newswires June 08, 2010 06:49 ET (10:49 GMT)

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