date:Jun 30, 2014
Tesco Plc needs more time to undergo the most radical changes in years as Britains biggest grocer improves stores, alters shop formats and cuts prices to fight competition, Chief Executive Officer Philip Clarke said.
Its not happening overnight, Clarke said at the companys annual shareholder meeting in London on Friday. The changes we are undertaking are the most radical for generations.
Clarke is under increasing pressure from investors impatient with his inability to turn the business around