ort released yesterday makes a strong case for the future of the business.However, our opinion here in ESM is that some of the world's top headhunters are currently doing research on who could be a likely successor when Philip Clarke decides to step down, or in the worst case scenario, when he might be asked to leave.
ESM research is throwing up the name of Greencore CEO Patrick Coveney, who in our opinion would be a brilliant successor to Clarke. Coveney, the former Oxford Blues rugby star, knows the Tesco business well from his experience as being a supplier for many of the retailer's own brand categories.
Under the former McKinsey superstar's guidance, the share price of Greencore has sky-rocketed.
On the London Stock Exchange in January 2012, its share price stood at a modest 50p. Fast-forward to 22 May 2014 and a single share in the Ireland-based company will set you back 275p. It's been quite the journey.
And now it seems that it could be time that the Cork-born Irishman Coveney, brother of Ireland's Minister for Agriculture Simon, would be a strong favourite to replace Clarke. Signs that bigger and better things await for Coveney are evident.
