Sir Terry Leahy: Tesco 'saw a failure in leadership'
The former chief executive of Tesco, Sir Terry Leahy, has told Panorama that there was a "failure" of leadership at the retailer under his successor, Philip Clarke.
Sir Terry said: "People tried very hard to do the right thing, it clearly has not worked.
"In the end that's a failure of leadership, not a failure of the business, not a failure of the people who work hard every day in the business.
"When you're the CEO, if it goes well, you get credit, if it doesn't go well, you must take responsibility and Phil Clarke has taken that responsibility and paid the price with his job."
In his first detailed comments on problems at the retailer, he also said Tesco had "eroded" the trust of customers by losing its reputation for low prices.
Watch the interview in full on Panorama: The trouble at Tesco on BBC One at 20:30 on 19 January or watch later on iPlayer.
19 Jan 2015
- From the section Business