Tesco is revamping its board-level procedures to include an extra meeting a year and enable greater input from non-executives.
The overhaul comes after a review of the retailer’s board structure was ordered by chairman Sir Richard Broadbent following a string of poor results at the grocer, according to the Daily Telegraph.
It was prompted by reports of a shortage of permanent executive-level directors at Tesco and the lack of overall experience at senior levels of the company. Chief executive Philip Clarke is currently the only permanent executive-level director on the board.
The grocer will hold an additional board meeting each year to provide more opportunities for contact between directors, and allow non-executive staff access to senior decision-makers in the company.
The changes will be brought in gradually over the next year, during which time at least one new non-executive director position will be created.
Britain’s largest retailer is making the changes ahead of what is likely to be a dismal set of first-quarter results to be announced later this week, with forecasters predicting a like-for-like sales fall as much as 4.2% from last year.