Tesco appoints new group FD

Laurie McIlwee will take up the position of group finance director of Tesco immediately.

Sir Terry Leahy, CEO of Tesco, said the appointment of an internal candidate demonstrates 'the strong internal talent coming through the business at every level.'

'Laurie has a strong track record here and overseas and is highly respected,' he said in a statement.

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 replacing Andrew Higginson, who left after more than a decade in the role to head up a new retailing services arm of the business.

McIlwee previously spent nine years at PepsiCo Inc in a number of roles, including president of business planning at Frito-Lay International, chief financial officer of Walkers Snack Foods and finance director of Pepsico Eastern Europe.

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