Tesco senior director Patrick Cescau steps down

LONDON (ShareCast) - A senior director at Tesco (Xetra: 852647 - news) has announced on Monday he will step down from the board next month. Patrick Cescau, who led the appointment of the new chairman John Allan and wider boardroom overhaul at the company, is the fifth non-executive director announcing his departure from the supermarket this year.

Richard Cousins, former chairman of Compass Group (Other OTC: CMPGF - news) , will replace Cescau from 7 April.

Chairman John Allan said: "On behalf of the board, I would like to take this opportunity to thank Patrick for his immense contribution to the business over the past six years, and I wish him well in his future ventures. We will be sorry to see him leave." Other recent resignations from Tesco's non-executive directors include Liv Garfield, Jacqueline Tammenoms Bakker and Gareth Bullock.

Tesco enjoyed this month its strongest performance in 18 months with sales up 1.1% in the past 12 weeks, as the industry price war created record levels of deflation, according to Kantar Worldpanel.