TESCO SHAKE-UP CONTINUES
Tesco is to lose two more non-executive directors as part of its board overhaul following last year’s £263m accounting scandal.
The head of Tesco’s audit committee, Ken Hanna who has sat on the board since 2009 will step down in June at the supermarket’s annual shareholder meeting. Stuart Chambers, former chief executive of the glass maker Pilkington who has sat on Tesco’s board since 2010, will leave at the same time.
Hanna will be replaced as head of Tesco’s audit committee by Byron Grote, a former BP finance director who joined the retailer’s board this month.
The latest two departures follow the exit of Patrick Cescau, Liv Garfield and Jacqueline Tammenoms Bakker, who have all left the business since Tesco appointed John Allan as chairman in February.
Allan thanked Hanna and Chambers for their “loyal and valuable contributions to Tesco”..