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Investor Urges New Tesco CEO to Cut $2b Dividend: Sunday Times 2014-08-17 09:33:46.486 GMT
By Anchalee Worrachate Aug. 17 (Bloomberg) -- Tesco should slash dividend payment unless it can be covered by free cash flow, Sunday Times cited interview with David Herro of Harris Associates which owns 3% of Britain’s largest supermarket company. * New Tesco CEO David Lewis from Unilever to begin work Oct. 1 * Lewis to spend months reviewing Tesco’s problems before coming up with rescue plan * NOTE: Tesco Had Worst Sales Decline in Two Decades, Kantar Data Shows
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To contact the reporter on this story: Anchalee Worrachate in London at +44-20-7073-3403 or aworrachate@bloomberg.net To contact the editor responsible for this story: Paul Dobson at +44-20-7673-2041 or pdobson2@bloomberg.net