Tesco forecasts full-year profit slightly ahead of expectations

Charles Wilson and Dave Lewis

I am delighted Charles will be joining the Tesco Board and Executive Committee.

Booker boss Charles Wilson will head up Tesco's United Kingdom business following the supermarket's £3.7 billion takeover of the wholesaler.

Tesco also said that Charles Wilson, now chief executive of Booker, will become chief executive of Tesco's retail and wholesale business in the UK. Davies, who will leave in April, has been at the center of Tesco's efforts to improve its image with British shoppers, and has helped oversee a recovery in United Kingdom sales growth.

The Tesco group chief executive, Dave Lewis, said Wilson was "ideally suited" to lead the United Kingdom and Ireland business in the next phase of Tesco's turnaround.

"He brings substantial commercial and retail experience and has an exceptional track record of increasing performance and driving growth in customer-focused businesses". He started his career in 1986 with Procter & Gamble before becoming a consultant with OC&C Strategy Consultants and a director of Abberton Associates.

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Wilson has been with Booker Group since 1998, becoming the wholesale group's chief executive in 2005.

"Optimising a joint national distribution system of Tesco and Booker is expected to lead to material benefits, including sharing parts of the delivery fleet".

In January, Tesco and wholesaler Booker Group - which includes the Premier, Londis and Budgens symbol groups - announced plans to merge to create "the UK's leading food business".

Tesco has more than 3,000 stores across the United Kingdom, while Booker is the UK's largest wholesaler and owner of brands such as Londis and Budgens.

Operating profit before exceptional items was expected to reach "at least" £1.58 billion ($2.22 billion, 1.78 billion euros) for the group's financial year ending on February 24, Tesco said in a brief update.

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