Former Tesco CEO Sir David Lewis has been named the new director of the Royal Foundation, a team of trustees that meet regularly with Prince William and Princess Kate
Prince William and Princess Kate have made a significant change to their team by appointing a prominent new figure.
Former Tesco CEO Sir David Lewis has been named director of The Royal Foundation by the Prince and Princess of Wales. The trustees, formerly led by Tory leader Lord Hague, each take on a mix of duties including strategic planning, governance, oversight, and fundraising.
The team meet formally at least quarterly and are legally accountable for the Foundation's work, and have regular meetings and discussions with the couple.
The Royal Foundation Centre for Early Childhood oversees the charity work of Prince William and Princess Kate, including William's Earthshot Prize and Kate's emphasis on early years education. This primary philanthropic effort also supports crucial areas like conservation, mental health, and emergency services.
A royal source told the Mail Online that Sir David's appointment was a "genius" move, adding that the royal couple are laying "strong foundations" for their future philanthropic work.
They plan to attract trustees from a wide variety of backgrounds including film producer Dame Pippa Harris, entrepreneur and former Worldpay CEO Sir Ron Kalifa, lawyer Claire Wills, former BBC executive Alice Webb and make-up superbrand Charlotte Tilbury's CEO Lady Pinsent. However, Prince William and Kate have dropped the plans to appoint a new CEO to run their royal household this year as they want to focus on Kate's ongoing cancer treatment.
Sir Dave, 59, was knighted in 2021 for his services to the food and business industry. He joined Tesco in 2014 during a crucial period for the supermarket giant when it posted a £6.4billion loss, with sales plummeting to their lowest level in 20 years after being hit by cut-price newcomers Aldi and Lidl.
However Sir David, nicknamed "drastic Dave" for his approach to cost-cutting, turned the fortunes around for Tesco within two years of being appointed as CEO and reported annual profits of £162million and rising to date.
He made sweeping changes by eliminating unnecessary segments of the empires, cutting thousands of jobs, and discontinuing perks like private jets. He also streamlined product lines significantly.
In 2020, the Yorkshire-born executive was also asked by the government to fix the food and supply chain crisis during the COVID pandemic. It is the same year Sir Dave left Tesco to spend quality time with his wife, Helena and his two daughters.
He announced his exit in a group statement, and said: "My decision to step down as group CEO is a personal one. It is all consuming. The business never sleeps. It is 365 days, 24/7.
"I believe that the tenure of the CEO should be a finite one and that now is the right time to pass the baton. Our turnaround is complete, we have delivered all the metrics we set for ourselves. The leadership team is very strong, our strategy is clear and it is delivering.
"From the middle of next year I intend to take some proper time out with my family, and recharge my batteries. You pass this way only once."
Following his departure, he joined a start-up renewable energy company and exercised multiple roles within a range of companies including Morrisons, PepsiCo and healthcare firm Haleon.
Kate is understood to have been working from home on her early years project for the Royal Foundation as she recovers from cancer treatment. A spokesman for Kensington Palace said: "The Princess has been kept updated throughout the process."