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Alison Horner, the chief executive of Tesco’s Asia business and a former director at the collapsed construction company Carillion, is reportedly set to step down next month.
According to The Sunday Times, Horner is set to step down after 22 years with the business where he led its Asian arm since 2018.
The paper claims that Horner’s decision is unrelated to the recent news that new business secretary Kwasi Kwarteng has begun proceedings against eight former directors of the construction company.
Instead it comes as the sale of its businesses in Thailand and Malaysia is set to be completed next month.
Back in March, the supermarket chain revealed it had agreed to sell its Asian businesses to C.P. Retail Development Company Limited (CPRD).
Following further approval from the Ministry of Domestic Trade and Consumer Affairs in Malaysia on 10 November, there are no further conditions outstanding and the disposal is expected to be completed soon.
Speaking at the time Ken Murphy, Tesco’s CEO, said: “I would like to thank all our colleagues in Asia for their hard work and dedication to our customers over many years. They have built a very strong business.
“I’m confident that the agreement with CP Group will ensure that they are well setup for continued success. This sale allows us to focus on our businesses across Europe and to continue delivering for customers, make a significant contribution to our pension deficit and return value to shareholders.”
