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Leadership announcements at Tesco's AGM - IGF Invoice Finance Comment PDF Print E-mail
Monday, 29 June 2015

Tracy Ewen, managing director of IGF Invoice Finance, comments on the leadership announcements at Tesco’s AGM <http://www.retail-week.com/sectors/food/live-blog-tesco-bosses-face-shareholders-at-grocers-agm/5076427.article?blocktitle=Latest-news-&-analysis&contentID=15016> .

“Dave Lewis’ pledge to win back the trust of customers and improve their experience is words full of intention, but if Tesco wants to be seen as a respectable company with its ‘shelves full’, it is the trust of the suppliers that must also be regained.
 
“Being rated the worst retailer at following the grocery code of practice by the Grocery Code Adjudicator’s (GCA) is embarrassing for any grocer, highlighting the dramatic action Tesco must take to fulfil its promises. Forcing hidden and unfair payment terms on suppliers is not a sustainable method that can go on forever, there needs to be a transparent system for when and how much suppliers are paid .

"Tesco’s chairman, John Allan, described how, somewhere along the way, Tesco "lost touch" with putting the customer first. However it has also lost touch with treating its suppliers fairly and this must change - not just with words but with real and meaningful actions.”

(Source - IGF Invoice Finance Comment)
 

 
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