Tesco is to ditch chief executive Philip Clarke and replace him with a turnaround specialist from Unilever, ending a disastrous three year reign as Britain's biggest retailer warned it would again miss profit forecasts.
Clarke, who has spent more than 1 billion pounds ($1.7 billion) on a failed recovery plan in Tesco's main home market, will be succeeded on October 1 by Dave Lewis, who is credited with revamping a succession of businesses at the consumer goods group and is currently its global president of personal care.

Source - http://www.financialexpress.com