viewEagle Eye Solutions Group PLC

Ex-Tesco bigwig appointed as new Eagle Eye CEO

Tim Mason launched the Tesco Clubcard and was the former boss of the supermarket giant’s failed Fresh & Easy venture

The store front of a Fresh & Easy store, previously owned by Tesco PLC
Fresh & Easy was supposed Tesco's way of cracking America

The former boss of Tesco’s failed Fresh & Easy division has snapped up a new role as the chief executive of digital promotions firm Eagle Eye Solutions Group PLC (LON:EYE).

Tim Mason – famed for launching the Tesco Clubcard – spearheaded the supermarket giant’s bid to crack America with its Fresh & Easy chain.

The venture proved unsuccessful and Tesco PLC (LON:TSCO) pulled out of the US market back in 2013, at a reported cost of £1.5bln.

Mason’s new role now will be to guide Eagle Eye through its growth phase, having moved down from a £14bln titan to a company with a market cap of £23mln.

"When I joined Eagle Eye in January this year, I saw a company with a vision and proven technology to transform an industry,” said Mason.

“Since then I have been able to verify this opportunity and believe the time is right to accelerate our business development.”

The man Mason is replacing as CEO is Phil Blundell, who will move aside to deputy chief executive and focus more on the overseas and international development of the business.

Eagle Eye also announced several other board changes.

Malcolm Wall, formerly a non-executive director, will fill the void left by Mason and become the company’s new non-executive chairman.

Drew Thomson will become Remuneration Committee Chairman, after previously serving on the board as another non-executive director.

Eagle Eye is a software as a service (SaaS) technology firm that specialises in digital loyalty schemes, offers and promotions.

The firm recently told investors that it expects to report revenues of £6.5mln (2015: £4.9mln) when it announces its full-year results later this month.

Shares were up 9p, or 9%, to 105p.

Quick facts: Eagle Eye Solutions Group PLC

Price: 157.5 GBX

Market: AIM
Market Cap: £40.45 m

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