Euphorium Bakery, the Tesco-owned chain, has appointed a new chief financial officer.
M&C Report reported that Eleni Savva will take the role having previously filled the position of chief financial officer for Tesco’s Harris + Hoole coffee brand. She will now report into chief executive James Fleming, who is a former head of PAUL UK.
Tesco bought the remaining stake in Euphorium in April having first linked up with the chain in October 2012 when it opened a concession in its Kensington store. The following year it bought a larger stake in the company and began a rollout of the brand in its stores.
Tesco recently revealed a ‘strategic’ plan to slow the roll-out of Harris+Hoole and Euphorium sites, after it wrote down £82m over the joint investments.
Euphorium currently has 59 concessions within Tesco stores, as well as six standalone sites, along with a bakery to service the Tesco stores in Weybridge in Surrey.