Firms that changed top execs after China biz hurdle

0 Comment(s)Print E-mail China Daily, February 6, 2015

Philip Clarke. [File photo]
Tesco Plc

CEO Philip Clarke stepped down in October 2014 after running the British retailer for three years since 2011.

In 2013 the British company entered into a joint venture with China Resources Enterprise.

Last year, Tesco China sold its 135 retail stores for 20 percent shares of the joint venture.

In May, China Resources Enterprise announced the store's brand would be replaced by China Resources Vanguard

In September, Tesco Plc admitted it inflated profits in the first half of 2014. Dave Lewis from Unilever took over the CEO position.

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