EL SEGUNDO, Calif. -- U.K. retail giant Tesco has made the first change to its executive management team at Fresh & Easy Neighborhood Market Inc., its American grocery/convenience chain, reported The Times.
Jeff Adams, the American-born CEO of Tesco's Lotus hypermarket business in Thailand, is heading back to the United States, where the report said it is understood that he will be second-in-command to Tim Mason, Fresh & Easy's CEO.
The move is likely to spark fresh concerns over the health of the new venture, added the newspaper. Tesco has been dogged by persistent speculation [image-nocss] that El Segundo, Calif.-based Fresh & Easy is missing internal sales targets set at the time of the launch in November last year.
A source close to Tesco insisted the appointment of Adams was about supporting Fresh & Easy's further growth rather than fixing problems, the Times said. Adams joined Tesco Lotus from Wal-Mart and is widely credited with its success in the past four years.
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