Headlines

Tesco Selects New Chair

John Allan succeeds Richard Broadbent

Published

9 years ago

February 18, 2015

Tesco PLC (Cheshunt, England) has appointed a new chair, John Allan, amid a series of recent executive position changes within the company. Allan succeeds Richard Broadbent, who resigned last October. His appointment is effective March 1, according to a company statement.

Broadbent’s resignation—along with that of several other Tesco executives—was part of a broad fallout when it was revealed the company had overstated its first-half 2014 profits by $400 million. In September, Dave Lewis replaced former ceo Philip Clarke.

Allan is the former chair of electronics retailer Dixons Retail PLC, which recently merged with Carphone Warehouse to become Dixons Carphone PLC (London), according to MarketWatch. Allan was named deputy chair of the new company, but stepped down with Tuesday’s Tesco announcement.

Tesco is the world’s second largest retailer by revenue and the largest grocery chain in the U.K.

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