Tesco has no plans for further overseas exits - new CEO

"At this stage there is no plan for further retrenchment," he told reporters after Tesco reported first-half results. "Right now I'm just really focused on getting to know these businesses, getting to meet the team in central and eastern Europe when I'm allowed to travel and really understanding the drivers of that business," he said.

Ken Murphy, the new chief executive of Tesco, said on Wednesday he had no plans for further retrenchment from overseas markets. "At this stage there is no plan for further retrenchment," he told reporters after Tesco reported first-half results.

"Right now I'm just really focused on getting to know these businesses, getting to meet the team in central and eastern Europe when I'm allowed to travel and really understanding the drivers of that business," he said. The group expects to complete the sale of its Thailand and Malaysia businesses this year and the sale of its Polish business next year.

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