Reading @‘s piece yesterday in the Financial Times about Tesco one year in to Dave Lewis’ tenure as CEO, I was reminded of the piece I wrote on the importance of management in turning around the former UK retail heavyweight’s fortunes.
It is clear that Mr Lewis has failed to manage. He destroyed the contract of trust by cutting thousands of head office jobs.
A CEO who cuts employees is an abject failure – his/her strategy did not work & employees pay the cost. Mr Lewis inherited this mess, so conveniently he can sidestep the strategy issue, but the fundamental problem remains: that he further strained the contract of trust while negotiating his compensation package.
Why would Tesco expect anything else from their employees but distrust, disconnection, cynicism and low morale?
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