Terry Leahy
{{Short description|English businessman (born 1956)}}
{{About||the Irish hurler|Terry Leahy (hurler)|the Australian rules footballer|Terry Leahy (footballer)}}
{{Use dmy dates|date=January 2018}}
{{Infobox person
|name = Sir Terry Leahy
|image = Terry Leahy.jpg
|caption =
|birth_name = Terence Patrick Leahy
|birth_date = {{birth date and age|1956|2|28|df=yes}}
|birth_place = Belle Vale, Liverpool, England
|death_date =
|death_place =
|other_names = Terry Tesco, Tesco Leahy
|death_cause =
|resting_place =
|resting_place_coordinates =
|known_for = CEO of Tesco Stores
|spouse = Alison Leahy
|children = 3
}}
Sir Terence Patrick Leahy (born 28 February 1956){{cite news|url=http://www.eiu.com/site_info.asp?info_name=AwardsSir_Terry_Leahy&entry1=AwardsNav1&infositelayout=site_info_nav_awards&rf=0|title=Sir Terry Leahy|newspaper=The Economist|accessdate=1 September 2008}} is a British businessman, previously the CEO of Tesco, the largest British retailer and the third-largest retailer in the world measured by revenues. In 2011, he became a senior advisor at private equity company Clayton Dubilier & Rice.
He now lives in Cuffley, Hertfordshire,{{cite news|url=http://news.bbc.co.uk/1/hi/england/merseyside/7344045.stm|title=Gran in Tesco boss planning war|publisher=BBC|accessdate=1 September 2008 | date=12 April 2008}} with his wife, Alison, and his three children.{{cite news|url=http://news.bbc.co.uk/1/hi/business/3624645.stm|title=Profile: Tesco chief Sir Terry Leahy|publisher=BBC|accessdate=1 September 2008 | date=20 April 2004 | first=Jorn | last=Madslien}}
Early life
Born in Belle Vale, Liverpool to Irish immigrants, Leahy grew up in a prefabricated home in Endbrook Road. His father, a merchant seaman, was injured in World War II and worked as a bookmaker to support the family. Leahy attended Our Lady of the Assumption Primary School, L25. He passed the 11+ exam and earned a scholarship to attend St. Edward's College, Liverpool a direct grant grammar school. He credits these institutions as providing scaffolding for ascent out of an impoverished background.{{citation needed|date=January 2018}} He began working (including a job stacking shelves at Tesco) and went on to study at the University of Manchester Institute of Science and Technology (UMIST) where he gained his BSc in Management Sciences and graduated in 1977. He earned a D.Sc. from Cranfield University.{{Cite web |date=January 25, 2023 |title=Clayton Dubilier and Rice Advisors |url=https://www.cdr-inc.com/professionals/advisors?nid=168 |website=Clayton Dubilier and Rice}}
Career
=Tesco=
Following his then girlfriend to London, he applied to become a product manager for Turkey Foil but was turned down. He applied for a job at Tesco, but lost out to another candidate. After that candidate was quickly reassigned upwards, Leahy returned to Tesco in 1979 as a marketing executive.
Tesco was a resolute market follower of the two leading brands, Marks & Spencer as the then world's most profitable retailer, and Sainsbury's as the world's most profitable food retailer. Leahy concluded that Tesco should stop following a strategy of catch-up and start leading through market knowledge, which led to his success in devising and implementing the Tesco Clubcard loyalty programme and also monitoring the shopping habits of Clubcard holders.{{Citation needed|date=October 2014}}
Leahy was appointed to the board in 1992, and in 1995 Tesco became the UK's biggest retailer. Leahy became chief executive in 1997, on the retirement of Lord MacLaurin (formerly his mentor) who wanted to appoint a successor to lead international expansion and increased market share. Tesco stretched its lead as the UK's largest retailer and also grew internationally.
Following Tesco's announcement of £2 billion in profits in April 2005, Leahy hit back against protests that the company was "too successful". During his tenure, he increased the company's UK market share from 20pc to 30pc.{{cite news|url=https://www.telegraph.co.uk/finance/10613346/Sir-Terry-Leahy-to-return-to-stock-market-with-BandM.html|title=Sir Terry Leahy to return to stock market with B&M|date=2 February 2014|work=The Daily Telegraph|accessdate=25 February 2014}}
On 8 June 2010, Tesco announced that Leahy was to retire as chief executive in March 2011.{{cite news|url=http://news.bbc.co.uk/1/hi/business/10262193.stm|title=Tesco chief Sir Terry Leahy to retire|date=8 June 2010|work=BBC News|publisher=BBC|accessdate=8 June 2010}} Leahy has been paid £8.42m in performance related bonuses since his departure from Tesco, in addition to a pension pot worth £18.4m at the time of his departure.{{cite news|url=https://www.theguardian.com/business/2013/jul/07/payouts-tesco-boss-terry-leahy|title=Payouts to former Tesco boss Sir Terry Leahy since retirement top £8m|date=7 July 2013|work=The Guardian|accessdate=8 July 2013}} Since then he has focused on startup investments.
=B&M Retail=
Following his departure from Tesco Leahy was appointed the chairman of the board of B&M Retail in December 2012. Sir Terry is a senior adviser to CD&R. In 2017, it was announced that he would step down as chairman from B&M after five years.{{cite news|url=https://www.belfasttelegraph.co.uk/business/uk-world/sir-terry-leahy-to-check-out-after-five-years-as-chairman-of-bm-36318619.html|title=Sir Terry Leahy to check out after five years as chairman of B&M|work=Belfast Telegraph|accessdate=16 January 2019}} During this time, he steered the retailer on to the stock market.{{cite news|url=https://www.telegraph.co.uk/business/2017/11/14/retail-veteran-sir-terry-leahy-checks-bm-bargains/|title=Retail veteran Sir Terry Leahy checks out of B&M Bargains|work=Daily Telegraph|date=14 November 2017 |accessdate=16 January 2019|last1=Armstrong |first1=Ashley }} Revenues also rose from £993m to £2.7bn as a result of an aggressive expansion plan, which also saw its store portfolio increase from 331 shops to 893.{{cite web|url=https://www.ft.com/content/d9488ed6-c762-328a-8e23-63bba8b3b33e|title=Retailing veteran Sir Terry Leahy stepping down from B&M|work=Financial Times|accessdate=16 January 2019}}
Honours
Leahy was knighted in 2002.
Institutions
He was Chancellor of UMIST, his alma mater, from 2002 until 1 October 2004, when he became one of two co-chancellors of the University of Manchester, when UMIST and the Victoria University of Manchester were merged into a new university.
{{Cite web|url=http://www.manchester.ac.uk/aboutus/facts/who/officers/|title=Senior Officers|publisher=University of Manchester|accessdate=1 September 2008}} He was given an honorary Doctor of Science degree from Cranfield University on 7 June 2007.{{cite web |url=http://www.cranfield.ac.uk/news/pressreleases/2007/page4804.jsp |title=Cranfield honours Tesco boss |accessdate=13 January 2009 |url-status=dead |archiveurl=https://archive.today/20120724004149/http://www.cranfield.ac.uk/news/pressreleases/2007/page4804.jsp |archivedate=24 July 2012 |df=dmy-all }}
Leahy is an Everton Football Club supporter and is a special advisor to the club.{{cite web|url=http://www.evertonfc.com/news/archive/sir-terry-joins-blues-exclusive.html|title=Sir Terry joins blues|publisher=Everton F.C.|accessdate=1 September 2008}} He was also part of a proposed ground move to Kirkby which would have a new ground with a Tesco supermarket, a hotel, a range of high street shops and extensive car parking.{{cite web|url=http://icliverpool.icnetwork.co.uk/0400evertonfc/0150kingsdock/tm_objectid=17235256%26method=full%26siteid=50061%26headline=blues%2dchoose%2dkirkby%2dsite-name_page.html|title=Blues choose Kirkby site|publisher=icLiverpool|accessdate=1 September 2008}} This project was called in for government scrutiny and rejected when Communities secretary, John Denham, decided the £400m project would breach shopping policies which discourage supermarket chains from sucking business away from town and city centres.{{cite news |url=http://news.bbc.co.uk/sport1/hi/football/teams/e/everton/8379839.stm |title = BBC Sport - Football - Government reject Everton's Kirkby stadium plans| date=26 November 2009 }}
Books
Leahy's book Management in 10 Words was published by Random House Business Books in June 2012.
{{Portal|Business|Food|United Kingdom}}
References
{{Reflist}}
{{s-start}}
{{S-bus}}
{{s-bef|before=The Lord MacLaurin of Knebworth}}
{{s-ttl|title=CEO of Tesco|years=1997–2011}}
{{s-aft|after=Philip Clarke}}
{{s-end}}
{{Tesco}}
{{England 2018}}
{{Authority control}}
{{DEFAULTSORT:Leahy, Terry}}
Category:Alumni of the University of Manchester Institute of Science and Technology
Category:English businesspeople in retailing
Category:English people of Irish descent
Category:Businesspeople awarded knighthoods
Category:Businesspeople from Liverpool
Category:People educated at St Edward's College
Category:English chief executives
Category:British corporate directors
Category:English Roman Catholics