Tesco Global Stores Zrt, the Hungarian unit of UK supermarket giant Tesco, will have a new CEO from August 1, the unit announced on Tuesday.
James McCann will take over from CEO Paul Kennedy, who is taking a job as an international director of the company. McCann currently heads Tesco's unit in Malaysia. Kennedy has headed Tesco's Hungarian unit since 1997.
Tesco is Hungary's biggest hypermarket chain and the country's second biggest UK investor. It has set up 58 hypermarkets in the past 11 years. The unit had gross revenue of Ft 473 billion in 2005, 14% more than a year earlier.