Tesco appoints new clothing chief
From: The Financial Times
Terry Green is being replaced as Tesco's clothing chief by a former J Sainsbury executive, as Britain's biggest retailer looks to revive its 1bn clothing business.
The clothing veteran, a close friend of retailing heavyweights Sir Stuart Rose and Sir Philip Green, has been usurped by Richard Jones, the former head of non-food at Sainsbury.
City analysts said the writing was on the wall for Mr Green in 2008 when Tesco poached Mr Jones from its rival.
A former Marks and Spencer executive, he was responsible for setting up Sainsbury's Tu clothing brand and was regarded among his peers as an operator to watch.
Mr Green, whose five-year contract with Tesco is coming to an end, will continue to do some project work for the retailer.
Mr Jones, meanwhile, will take up the job of running the clothing business in the UK and will also look after the home lines in Tesco's non-food offer.
The switch comes at a crucial time for Tesco's clothing business. Late last year, the retailer put its full 3,500-item clothing offer online in an effort to close the gap with Asda, which was already selling its George collection over the internet.
Mr Green said at the time that his ambition was to knock Asda off the top slot to become the biggest clothing retailer by volume of sales in the UK. Tesco is currently the fourth-biggest, behind Asda, Primark and M&S.
There will be interest in where Mr Green might turn up next.
A number of former senior Tesco executives have gone on to run smaller companies, such as John Browett at DSGi, Dido Harding at Talk Talk and Ken McMeikan at Greggs.
Mr Green, who made his name turning round Debenhams in the late 1990s, nearly left Tesco in 2007 when he held talks with Sir Stuart about moving to M&S. Tesco said last night it was "delighted" Mr Green was going to work on projects for it. "He has made a great contribution to the success of the business, including the launch of our online store last year."
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