By Ian Walker
LONDON--Tesco PLC (TSCO.LN) said Monday that International Chief Executive Trevor Masters would leave the business at the end of May after 38 years of service, as the company focuses on Asia and Central Europe.
The U.K.'s no. 1 grocer by market share said that following the sale of its Turkish business, it would give greater focus to Asia and Central Europe. As part of this, the company has created two roles to lead Asia and Central Europe, which will be filled by company veterans.
From April 1, Tony Hoggett will become Tesco's CEO for Asia and Matt Simister will become CEO for Central Europe.
Mr. Hoggett joined Tesco as a 16-year-old student in 1990. He managed a number of stores across northern England before being promoted to stores director.
Mr. Simister joined Tesco in 1996 as a marketer, before working across different categories in the product team.
Tesco shares at 1135 GMT were up 0.55 pence, or 0.3%, at 187.9 pence.
-Write to Ian Walker at [email protected]; @IanWalk40289749