You Shop, We Drop Our CEO

It's a well-worn advertising slogan. Tesco has delivered on its promise—by dropping its boss. Chief exec Philip Clarke is a veteran of the supermarket group—spending four decades there. But his resignation came with a warning—the group predicting it'll miss its first-half profits—Clarke resigning after a disastrous three years at the helm. Chris Beauchamp of IG says there are big challenges ahead.

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