Tesco’s general merchandise director leaves role

Published on: 21st November 2012

Terry Price, commercial director of Tesco’s non-food business in the UK and Central Europe, is leaving the company having spent 18 months in the role.

Some observers have suggested that Mr Price has paid the ultimate price for Tesco’s below par non-food performance in the UK in 2012. Speculation in the industry points to Price’s demise being caused, in part, by the negative effects of the ‘every day low price’ (EDLP) plan, and the ditching of half price deals on toys. Mr Price was apparently close to retirement, but his departure is also believed to reflect Tesco’s shift towards online in the non-food sector.

Tesco’s CEO, Philip Clarke, said that the company had to continue to innovate to combat the competition presented by the huge shift to online, which has hit Tesco’s non-food business particularly hard. He said: “If you dare not take risks for fear of failure, then decline is inevitable.”

Replacing Price, Neela Mukherjee, UK general merchandise director, will now take control of online and offline general merchandise across the division.


Friday Blog

Is everything OK…it’s the Friday Blog!

Character Options announces senior promotions

Baby born celebrates 30th birthday with over 20,000 children

Spielwarenmesse 2022 details precautions for a safe event

Hasbro progresses sustainability goals with Potato Head

Universal ramps up Jurassic World excitement with new short

Blackpool to welcome new Merlin Entertainments Peter Rabbit attraction

Sign up now for ‘Supply Chains, transportation and toys’ webinar

Toy Galaxy opens new Watford store and champions indies

Bachmann unveils latest winter launches