Dave Lewis, the chief executive of Tesco, has decided to quit the supermarket he has led since September 2014.

He will be replaced by Boots' Ken Murphy, after claiming the grocer's turnaround "is complete".

Mr Lewis said: "My decision to step down as group CEO is a personal one.

"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."

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Tesco chairman John Allan said Mr Lewis first approached him "some time ago" to explain he was ready to move on, allowing Mr Allan the chance to start a hunt for a replacement.

He said: "It is with regret that I have accepted the resignation of Dave Lewis as group CEO of Tesco, who has decided that he wants to leave the business in the summer of 2020.

"Dave has done an outstanding job in rebuilding Tesco since 2014 and he continues to have unwavering support from the board.

"Some time ago, however, he indicated to me that he was considering the best time to hand over to a successor. His openness allowed me to begin a thorough and orderly process to identify a potential candidate to replace him."

Mr Murphy has spent his career with high street chain Boots - first with Alliance Unichem, then Boots.

Paddy Power and Betfair owner Flutter Entertainment has agreed a deal to buy Canadian rival The Stars Group to create the world's largest online betting firm with combined annual revenues of £3.8 billion.

Flutter - previously called Paddy Power Betfair - said the merged group will be headquartered in Dublin and listed on the London Stock Exchange as well as on Euronext Dublin.

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The combined group will have a stock market value of around 11.4 billion US dollars (£9.3 billion).

Flutter shareholders will own 54.6% of the merged firm.
Flutter chairman Gary McGann will become chairman of the combined group while Flutter chief executive Peter Jackson will head up the firm in the same role.

Rafi Ashkenazi, chief executive of The Stars Group (TSG), will become chief operating officer of the combined group.

Pharmacists are experiencing shortages of every major type of medicine, including hormone replacement therapy (HRT), antidepressants and anti-epilepsy pills, according to a poll.

Blood pressure drugs, contraceptives, painkillers and skin creams are also among those in short supply.

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The 402 community pharmacists who responded to the Chemist and Druggist poll said HRT drugs were most commonly in short supply, with 84% struggling to get hold of them.

Meanwhile, 67% of pharmacy staff saw shortages of contraceptives, and 58% experienced supply issues of anti-epileptic drugs, with others struggling to get hold of drugs for Parkinson's.

Numerous issues have been cited for the shortages, including manufacturing and supply problems, and the discontinuation of some brands driving up demand for others.