John Allan is steps up as the new Chairman of Tesco

shutterstock_121441867Tesco 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.

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