Tesco PLC (CEO, 1997–2011). During his 14-year tenure as Chief Executive, Sir Terry transformed Tesco from a domestic supermarket chain into the third-largest retailer in the world by revenue. He quadrupled group sales from £13.9 billion to £62.5 billion, grew EBITDA from £1.1 billion to £4.7 billion, and increased the company's market capitalisation from £8 billion to £35 billion. He expanded Tesco's UK market share from 20% to over 30%, and led the company's international expansion across Europe and Asia. He pioneered the Tesco Clubcard loyalty programme — one of the most successful customer data initiatives in retail history — and expanded the business into financial services, telecoms and online retail.
Clayton, Dubilier & Rice (Senior Adviser, 2011–present). Sir Terry has served as a Senior Adviser to CD&R LLP, a leading private equity firm, since 2011 — joining a roster that has included Jack Welch (former Chairman of General Electric) and A.G. Lafley (former Chairman of Procter & Gamble). In this role, he advises portfolio companies on operational and strategic issues and assists in evaluating investment opportunities.
B&M Retail (Chairman, 2012–2017). Sir Terry was appointed Chairman of B&M Retail in December 2012, having been brought in by CD&R LLP. During his five-year tenure, he steered the discount retailer through a successful IPO on the London Stock Exchange. Under his chairmanship, B&M's revenues grew from £993 million to £2.7 billion, and the store portfolio nearly tripled from 331 to 893 locations.
Motor Fuel Group (Director and Chair of the Executive Committee of the Board, 2015–present). Sir Terry joined the board of Motor Fuel Group in June 2015 on completion of CD&R's acquisition of the business from Patron Capital. He has chaired the Executive Committee of the Board since MFG acquired MRH in February 2018 creating the UK's largest independent forecourt operator. During his tenure, MFG has grown from approximately 373 sites to over 1,200 and now operates the UK's largest open ultra-rapid EV charging network, passing 1,000 ultra-rapid charging bays in July 2025.
Morrisons (Chair, 2021–present). Sir Terry was appointed Chair of Morrisons in October 2021 following CD&R's acquisition of the business. Sir Terry led the investment process and oversaw its orderly transition from public to private ownership. Morrisons operates approximately 500 supermarkets, over 1,000 convenience stores and employs around 100,000 people. In FY24 the supermarket chain generated £19.7 billion of revenue.