Fishburn Hedges

08.06.2010

The City has reacted today to the announcement of Terry Leahy’s retirement by marking down Tesco’s shares, probably more as a testament to his performance over the past 14 years than any real concern about the long-term future of the organisation.  Leahy has done a fantastic job of building the Tesco brand into a world-class leader. He’s done it by doing what most companies know they should do, but few actually  manage  - focussing on customers, their needs, wants and desires - and then satisfying those customers. And this simple strategy has been founded on a clear set of brand values:

No-one tries harder for customers:

- Understand customers.

- Be first to meet their needs.

- Act responsibly for our communities

Of course many other companies have brand values but they are often platitudes which live (only) on the company website. Tesco’s values influence every decision and action, everyday. And as a result of this common-sense, no-nonsense approach, Leahy’s legacy will be a strong, enduring brand that will continue to prosper in consumer and financial markets alike.