Tesco chief financial officer to step down next year

The supermarket titan is currently seeking a successor both internally and externally for Stewart, who will retire from his role on April 30, 2021.

Stewart joined Tesco in September 2014 and is credited with playing an “instrumental role” in the turnaround of the business, including leading the corporate restructuring, rebuilding of its balance sheet and driving investment.

His forthcoming departure follows that of chief executive Dave Lewis, who also joined in 2014 and is set to step down in September, handing the reins over to successor Ken Murphy.

Lewis said: “Alan has been an outstanding leader and partner at Tesco. He has made a huge contribution and on behalf of all Tesco colleagues I would like to thank him for all he has done.”

Stewart added: “Being part of the team that has delivered the turnaround at Tesco and set it up for the next stage means an incredible amount to me.

“I shall continue to focus on delivering the strategy, supporting the business and my colleagues through the next 11 months, knowing that the business is in a strong position as we move forward.”