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Tesco CEO to be replaced by Unilever exec
New York -- British retailing giant Tesco Plc on Monday said CEO Philip Clarke would step down in October, to be replaced by 27-year Unilever executive Dave Lewis, with the change effective Oct. 1. Clarke, who has been with Tesco for 40 years, will remain with the retailer until January 2015.
Also on Monday, Tesco said recent sales had been more challenging than anticipated and its profit in the first half of its financial year would be below expectations. It was the second profit warning issued since Clarke took the reins of the company in March 2011. -
Capri Capital Partners launches Capri Retail Advisors
Chicago — Capri Capital Partners has formed Capri Retail Advisors, an affiliate that will focus on retail opportunities in underserved and evolving retail trade areas in strategically selected major U.S. metropolitan markets.
Ross Glickman, former chairman and CEO of Urban Retail Properties, has been named president and CEO of the new affiliate. Ken Lombard, former president of the Starbucks in-store entertainment division and also former president of Magic Johnson’s urban retail real estate development company, is chairman and chief investment officer.
