This is the BBC.

Hello and welcome to the bottom line, the final programme in our autumn winter season,

and to round off this series, we've ventured out of the studio to St Edward's College in Liverpool.

I'm here with an audience to speak to a former pupil and supermarket supremo Sir Terry Lehi.

Now, for 33 years, he worked at Tesco.

He was chief executive there for some golden years in the history of that company,

from 1997 to 2011.

He took Tesco from number three in the supermarket charts to number one.

He made the customer king and Tesco, one of the

most admired retailing businesses in the world. However, there is an old saying about chancellors

of the exchequer, that there are two types, those whose career ends in failure and those who get

out in time. And if you applied that adage to supermarket bosses,

you'd probably say Sateri got out in time because since he retired from Tesco, it has been a huge

struggle for the big supermarkets in general and for Tesco more than the others. Its share price

is now less than half what it was in his day.

Since leaving Tesco, he's been a senior advisor to a private equity company. He's been

chairman of B&M, which is discount store, although he's stepping down from that. And he

invests in a few e-commerce startups. He's a big supporter of the ideas behind the Northern Powerhouse.

Now, I should say, we're here

because he was brought up in a council estate near here,

and this is his old school.

So please do welcome Sir Terry Lehi.

...