Saturday, December 10, 2022, at 3:11 PM
Tesco is said looking to replace John Allan as chairman, who is due to step down in 2024.
Sky News’ Mark Kleinman was informed by sources that external researchers were hired to assist with the recruitment process.
Byron Grote, former chief financial officer at BP and non-executive head of the supermarket chain, will be leading the internal search.
Alan took over as chairman in March 2015, in the wake of one of Tesco’s worst periods ever as the supermarket was accused in December 2014 of inflating its profits by £250m.
Sky reports that the chairman has contributed to stabilizing the company over the past seven decades as it rebuilds market share.
Tesco, the UK’s largest supermarket chain, has been affected just like its competitors by the effects of Covid, and, more recently, by the cost-of-living crisis.
The series has seen an increase in its price Offer meal – which includes a main meal, drink and snack – from £3 to £3.40 for Clubcard members, and from £3.50 to £3.90 for regular customers.
Tesco was reached for comment.
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