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Tesco strengthens board with non-executive director duo

Tesco has hired two non-executive directors, including former Ikea chief executive Mikael Ohlsson, effective from November 1.

Ohlsson worked for Ikea Group for 34 years, most recently as chief executive and president – a role he held from 2009 until September 2013. He is a non-executive director of Volvo, Ikano Group and Lindéngruppen. 

Richard Cousins will also join Tesco as a non-executive director in November, from his current post as chief executive of Compass Group, which he has held since 2006.

Cousins was a non-executive director of Reckitt Benckiser Group from 2009 until May 2014, and of HBOS and Bank of Scotland from 2007 to 2009. 

Tesco chairman Sir Richard Broadbent said: “I am delighted to welcome Mikael and Richard to the board and know their broad skills and experience will be a real asset to the company in the coming years. 

“Mikael and Richard have been updated on and are wholly supportive of the steps being taken by the new management team to rebuild trust in Tesco and to focus all the resources of the business to deliver value to our customers.”

Last week, the Financial Conduct Authority commenced a full investigation into Tesco’s overstatement of expected profit for the half-year.

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