Former Tesco chief executive Sir Terry Leahy, has reportedly received almost £8.5 million in performance-based payouts since retiring two years ago, according to The Guardian. The payments come amid writedowns, profit warnings and mounting criticism about Leahy’s strategic legacy.
Walmart, the group that own supermarket giants Asda, announced on Wednesday the departure of the head of its India division, amid bribery claims. The company faced probes last year surrounding speculation that it paid bribes to expand its retail business. In a brief statement issued by the company, the conglomerate announced that Raj Jain, who headed the division since 2007, “is no longer with the company”.
Waitrose has announced that its new state-of-the-art frozen beef facility will be handled entirely by one supplier- a first for the industry which is still recovering from the horse meat scandal. The horse meat scandal erupted back in January when horse DNA was found in some frozen beef products on supermarket shelves.
A rejuvenation in the Scottish pig industry is expected after supermarket giant Asda agreed to bring back its Specially Selected Pork label.
Mary Portas has launched an attack on the Government following their decision to allow a giant Tesco store to be built on the Margate seafront. Margate was one of 27 towns chosen to receive the ‘Portas Pilots’ grant- a scheme designed to help struggling high streets rejuvenate trade.
The post of head of marketing at Waitrose has been aptly filled by Rupert Ellwood following a promotion as head of retail operations. Mr Ellwood will be filling the shoes of former head of marketing Sarah Fuller, who left her post last month to join The Garden Centre Group. His new roles will include taking charge of ad campaigns, customer publications and events.
US billionaire Rob Burkle is thought to eyeing up the prospect of buying Tesco’s loss-making US business, Fresh & Easy, in order to re-launch the Wild Oats chain of natural food stores, according to reports. The approach is understood to have come from his investment fund, Yucaipa Cos, after Tesco decided to cut their losses with the £1 billion food chain.
The proposed merger between Britvic and AG Barr has been provisionally cleared by the UK Competition Commission, creating what could be Europe’s largest soft drinks companies. The Commission is said to be certain that AG Barr’s proposed £1.4 billion expansion acquisition of Britvic will not “result in a substantial lessening of competition” or “wholesale prices to increase substantially”.
The former chief executive of Marks & Spencer and now Ocado chairman, Sir Stuart Rose, has reportedly seen his personal wealth rise by GBP 1.5 million following the delivery group’s deal with Morrisons, the Mail on Sunday reports. The retail veteran owns 1.2 million shares in Ocado, 450,000 of which were acquired as a result of his appointment as chairman on March 11.
Iceland, the first food retailer to launch online shopping nationwide in UK has returned to e-commerce with its online ordering and free delivery service. Iceland's director John Mackie worked with ecommerce partners Portaltech Reply to setup the service for Iceland Foods in seven months.
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