Halfords CEO Matt Davies to become new boss at Tescos

Halfords' Matt Davies to head Tescos, effective 1st June.
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Matt Davies, chief executive of Halfords since October 2012, is to leave to become CEO of troubled supermarket group Tescos. His new role starts on 1st June. Davies is familiar with reptiles having formerly been the CEO of Pets at Home.

While sales at Halfords have been strong – buoyed by high demand for bikes – Tescos is struggling.

Halfords' board member Dennis Millard said Davies had made an "outstanding contribution to the business," adding "we have set a clear direction, built significant momentum across the organisation and are making good progress."

A statement from Davies said:

"My decision to leave has been very difficult. I have really enjoyed my time at Halfords, working with a great team of people across the business, helping to create and deliver a clear service-focused strategy. I am fully committed to driving the business over the next few months before I depart."

Tesco has reported a fall in like-for-like sales of 2.9 per cent in the 19 weeks to 3rd January.

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