John Allan is steps up as the new Chairman of Tesco
Tesco has announced that John Allan as Chairman will join the Board and be appointed Chairman on 1 March 2015. Richard Broadbent will step down from the Board on the same date.
Richard Broadbent, Chairman, said: “I am delighted that John has agreed to join us and take on the role of Chairman of the Board. I am sure that his wide expertise, his experience and his personal qualities will contribute greatly to the future of the Group.”
Patrick Cescau, senior independent director, said: “Following a deep and thorough process run by a committee of independent non-executive directors, the Board unanimously agreed that John Allan was the right candidate to chair Tesco at this important time. On behalf of the Board I would like to thank Richard for his work as Chairman. He has served the business with unflinching commitment through a period of unprecedented change, and put in place a new senior leadership team for the next stage of Tesco’s development.”
John Allan said: “I’m very pleased to be taking on this role at such a critical moment for the business and look forward to working with the new executive team and the Board.”
John became Chairman of Dixons Retail in Sept 2009. Dixons conducted a comprehensive turnaround programme during which the share price more than quadrupled, culminating in a friendly merger of equals with Carphone Warehouse in August 2014 to form Dixons Carphone. He is currently a Deputy Chairman and SID of the new company, which was the best performer in the FTSE 100 in 2014. He is also Chairman of Barratt Developments and Chairman of Worldpay.
Other Tesco news:
Tesco payment terms – a fair deal for all?
Tesco agrees sale of Spenhill sites to Meyer Bergman for £250m
