Philip Clarke will become chief executive of Tesco in March 2011 when Sir Terry steps down.
Sir Terry is feted in the City and beyond for taking the supermarket chain head and shoulders above the opposition in the UK in terms of market share - every £1 in £8 of British retail spending is at Tesco - and for making it the world's third largest retailer behind Wal-Mart of the US and Carrefour of France.The company's growth is often cited by marketeers as an example of perfect brand building as Sir Terry expanded it from grocer to market contender in everything from electrical goods to clothes to banking.
Clarke, rose through the ranks, built up 'broad Tesco experience as a store manager, a buyer, a marketeer and as an international executive. He joined the Tesco board in 1998, a year after Sir Terry was made CEO, taking on responsibility for the supply chain with IT added to his remit a year later.
He took charge of international operations in Asia and Europe in 2003 - which now covers nearly 2000 stores and nearly two-thirds of the group's shop space - and retained group IT.
He led expanstion into some of the group's key new markets such as China, India and Turkey.
Sir Terry is feted in the City and beyond for taking the supermarket chain head and shoulders above the opposition in the UK in terms of market share - every £1 in £8 of British retail spending is at Tesco - and for making it the world's third largest retailer behind Wal-Mart of the US and Carrefour of France.The company's growth is often cited by marketeers as an example of perfect brand building as Sir Terry expanded it from grocer to market contender in everything from electrical goods to clothes to banking.
Clarke, rose through the ranks, built up 'broad Tesco experience as a store manager, a buyer, a marketeer and as an international executive. He joined the Tesco board in 1998, a year after Sir Terry was made CEO, taking on responsibility for the supply chain with IT added to his remit a year later.
He took charge of international operations in Asia and Europe in 2003 - which now covers nearly 2000 stores and nearly two-thirds of the group's shop space - and retained group IT.
He led expanstion into some of the group's key new markets such as China, India and Turkey.
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