Tesco, the world's No. 3 retailer, has appointed Kevin Grace, a 30-year veteran of the firm, to the newly created post of group commercial director, according to an internal communication seen by Reuters.

Grace, who has been a property services director since 2006 and has also worked for Tesco in South Korea and Poland, will report to group CEO Philip Clarke and join Tesco's executive committee.

He will have responsibility for group sourcing.

The appointment is the second major management move at Tesco in as many days.

On Tuesday the firm named Trevor Masters as the new head of its Asian business after David Potts decided to retire after 39 years at the group.

Tesco is scheduled to update on third quarter trading on Thursday.

(Reporting by James Davey and Mark Potter; Editing by Paul Hoskins)