Tesco has appointed Barclays deputy chairman Sir Richard Broadbent as chairman as David Reid stands down.
Broadbent will take over from Reid on November 30. He will also join the Tesco board as non-executive director from July.
Reid said: “I am very pleased that Richard will be joining our board and then succeeding me as chairman later in the year. I am sure that with his wide expertise, his board experience and his personal qualities he will contribute greatly to the future growth of the group.”
Broadbent said:”I am delighted to be joining the board of an innovative and growing global business. I look forward to working with a great team and playing my part in helping guide Tesco to further success in the future.”