Tesco’s convenience boss Tony Reed to depart after 38 years

Reed has been in charge of the grocer’s 2,750-strong Express and Metro portfolio for just over a year, having been promoted to the position by Tesco boss Dave Lewis last February.

The Tesco lifer, who started his retail career with the supermarket chain as a 15-year-old back in 1978, previously spent five years in charge of its One Stop business.

Reed also held various other senior roles during almost four decades with the grocer, including those of store director, commercial category director for bakery and managing director of superstores for the north of England.

He became One Stop boss in March 2011 following Tesco’s acquisition of independent chain Mills Group and oversaw an expansion strategy that took its estate to more than 700 stores.

According to its latest accounts filed at Companies House, covering the year to February 2015, One Stop’s sales jumped 17.2% to £925m. But pre-tax profits more than halved to £10m following heavy investment in its franchise model, which Reed oversaw the development of in 2013.

A Tesco spokesman said: “Tony has made a huge and varied contribution to our business throughout his 38 year career at Tesco and we wish him every success for the future.”

The grocer added that a replacement would be unveiled “in due course.”