Tesco finds new group FD from within

Laurie McIlwee: internal appointment ends seven-month search

Tesco has appointed Laurie McIlwee as its new group finance director.

McIlwee, who takes up the position immediately, succeeds Andrew Higginson, who held the post for more than a decade.

Sir Terry Leahy, chief executive officer of Tesco, said the appointment of an internal candidate demonstrated ‘the strong internal talent coming through the business at every level. Laurie has a strong track record here and overseas, and is highly respected.’

McIlwee joined Tesco in December 2000 as UK finance director before assuming the role of distribution director four years ago.

The appointment ends a seven-month search for a replacement for Higginson, who left the role to head up a new retailing services arm of the business.

McIlwee previously spent nine years at PepsiCo in a number of roles, including CFO of Walkers Snack Foods and FD of PepsiCo Eastern Europe.