Tim Mason, CEO of Tesco's US operation Fresh & Easy Neighborhood Market, has said he will not succeed Sir Terry Leahy as CEO of Tesco.

Speaking during a Fresh & Easy store visit, Mason, who has been in the frame to succeed Sir Terry for some years, said the job should go to a younger candidate, according to reports in the Financial Times.

Sir Terry looked set to stay in the role for another five years or more, Mason added.