Tesco has appointed Dixons Carphone deputy chairman John Allan as chairman, effective from March 1. He will replace Richard Broadbent, who will step down on the same date.
Allan will step down from the boards of Dixons Carphone and Royal Mail and join Tesco’s board. He will resign with immediate effect from his role as a senior advisor to Alix Partners and will step down as chair of the DHL UK Foundation as soon as a successor is found, which is expected to be within three months.
He expects to continue in his other roles as chairman of Barratt Developments and WorldPay.
“I am delighted that John has agreed to join us and take on the role of Chairman of the Board,” said Tesco’s outgoing chairman Richard Broadbent. “I am sure that his wide expertise, his experience and his personal qualities will contribute greatly to the future of the group.”
Patrick Cescau, Tesco’s 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.”