Morrisons’ private equity owner has hired former Unilever and Tesco boss Sir Dave Lewis as it beefs up its top team.
New York-based buyout group Clayton, Dubilier & Rice said Lewis will become an operating adviser and ‘support the firm in identifying and evaluating new investment opportunities’.
Former Tesco boss Dave Lewis joins Clayton, Dubilier & Rice said Lewis
Clive Black, a retail analyst at Shore Capital, said it was a ‘stunning appointment’ for CD&R, adding: ‘There’s no one who knows consumer products better than Lewis.’
Other operating advisers include Sir Terry Leahy, who ran Tesco from 1997 to 2011 and is chairman of Morrisons having led the takeover by CD&R, as well as ex-Boeing boss Jim McNerney and former Marsh McLennan leader Dan Glaser.
Lewis (pictured) spent almost three decades at Unilever before taking over at Tesco where he oversaw a dramatic turnaround in its fortunes.
He is also chairman of consumer health company Haleon.
Given the successful transformation of Tesco under Lewis, Black said it would be a ‘missed opportunity’ if he does not get involved at Morrisons, which has struggled in recent years. CD&R copresident Dave Novak said Lewis is ‘an exceptional executive and highly respected leader’.
