Big Boots to fill: Meet the Walgreens exec replacing Tesco’s CEO
Boots veteran Ken Murphy has been named as the successor to outgoing Tesco chief executive Dave Lewis.
The City reacted with surprise this morning to the news of Lewis’ departure, and the appointment of the relatively unknown new boss.
Read more: Analysts react to Dave Lewis shock departure
Murphy, a qualified accountant, began his career at Unichem, where he held a number of management roles. The company eventually became part of Boots and subsequently US group Walgreens Boots Alliance.
The Irish businessman, who studied at University College Cork and Harvard Business School, lead the integration of Alliance Unichem and Boots the Chemist after the companies merged in 2005.
He then climbed the ranks to become Boots chief operating officer before he was appointed chief commercial officer and president of global brands at Walgreens Boots Alliance – a position he held until January this year.
Murphy continues to act as a consultant for Walgreens Boots Alliance following a move back to the UK earlier this year. His start date at Tesco is yet to be announced.
According to today’s announcement he will receive a basic salary of £1.35m per year, with pension contributions of 7.5 per cent of basic salary.
Read more: Tesco CEO Dave Lewis quits
Tesco chairman John Allan said: “Ken has values which align with our own, strong strategic and operating acumen, and is proven at the very top of a large and respected multinational retail group”.
Lewis said he knew Murphy, calling him a “good man”, while Allan added he “is the right person for the job.”
Main image credit: Getty