Homebase snaps up former Tesco exec Echo Lu
DIY chain Homebase has poaches its latest managing director from the embattled supermarket Tesco.
Echo Lu, who was previously head of group business planning and insight at Tesco, will join on April 20.
John Walden, chief executive of Home Retail Group, said.
Echo has significant, broad-based retail experience both in the UK and the rapidly evolving Asian region, and importantly has been an agent for positive change throughout her career.
She is the ideal candidate to lead Homebase and its productivity plan, as we improve the store operational standards and customer service, develop stronger customer propositions and accelerate Homebase's digital capabilities, and realise its potential for greater growth.
She will replace Paul Loft, who first announced plans for his departure last year, after the completion of a review.
Homebase had revealed plans to shut a quarter of Homebase’s 323 branches, blaming excess retail space and the rise of a generation that had fallen out of love with DIY.
Homebase, which is owned by Home Retail Group, saw sales fall 0.7 per cent to £1.5bn in the year ended February 2015. It said it was on track to deliver the Homebase productivity plan over the next three years.