Morrisons’ non-public fairness proprietor has employed former Unilever and Tesco boss Sir Dave Lewis because it beefs up its high crew.
New York-based buyout group Clayton, Dubilier & Rice mentioned Lewis will turn out to be an working adviser and ‘assist the agency in figuring out and evaluating new funding alternatives’.
Former Tesco boss Dave Lewis joins Clayton, Dubilier & Rice mentioned Lewis
Clive Black, a retail analyst at Shore Capital, mentioned it was a ‘gorgeous appointment’ for CD&R, including: ‘There’s nobody who is aware of client merchandise higher than Lewis.’
Other working advisers embrace Sir Terry Leahy, who ran Tesco from 1997 to 2011 and is chairman of Morrisons having led the takeover by CD&R, in addition to ex-Boeing boss Jim McNerney and former Marsh McLennan chief Dan Glaser.
Lewis (pictured) spent virtually three a long time at Unilever earlier than taking up at Tesco the place he oversaw a dramatic turnaround in its fortunes.
He can also be chairman of client well being firm Haleon.
Given the profitable transformation of Tesco below Lewis, Black mentioned it might be a ‘missed alternative’ if he doesn’t get entangled at Morrisons, which has struggled in recent times. CD&R copresident Dave Novak mentioned Lewis is ‘an distinctive government and extremely revered chief’.