Andrea Coscelli CMA

The UK’s new competition boss has said it is vital the organisation only intervenes when it is “necessary and effective”, with Brexit posing new challenges.

Dr Andrea Coscelli was today given the permanent position of Competition & Markets Authority CEO, with its current workload including a probe into the Tesco-Booker merger.

Coscelli has held the position of acting CEO since July 2016, when he took over from Alex Chisholm.

“We must also help ensure the continuing waves of exciting innovation in products and services fully benefit consumers and growth in the economy. As part of this, we need to ensure we intervene in markets in a timely and effective way, and only when necessary,” he said.

An executive director at the CMA since 2013, Coscelli was previously director of economic analysis at Ofcom.

Business secretary Greg Clark said: “Dr Coscelli is a recognised expert in competition and regulation, and commands respect in the business, and regulatory and academic community. I have no doubt he will make good use of his experience to further the CMA’s position.”