Richard Broadbent new chairman of Tesco | RetailDetail

Richard Broadbent new chairman of Tesco

Britain's biggest supermarket chain Tesco has appointed Sir Richard Broadbent, aged 58, as new chairman. He will replace David Read, Tesco's chairman since 2004, when the latter retires in November. This is the second major change at the top of Tesco, after its retiring CEO Sir Terry Leahy was replaced by Philip Clarke earlier this year. 

 

The announcement ends months of speculation about what is regarded as one of the biggest corporate roles in Britain. There were also earlier rumours about Broadbent, who was reportedly linked to insurer Aviva. Broadbent's experience has been hailed by analysts: previously he worked both in the City (Schroders) and for the government (Treasury department and Customs & Excise, for which he was later knighted). 

 

 

Britain's biggest supermarket chain Tesco has appointed Sir Richard Broadbent, aged 58, as new chairman. He will replace David Read, Tesco's chairman since 2004, when the latter retires in November. This is the second major change at the top of Tesco, after its retiring CEO Sir Terry Leahy was replaced by Philip Clarke earlier this year. 

 

The announcement ends months of speculation about what is regarded as one of the biggest corporate roles in Britain. There were also earlier rumours about Broadbent, who was reportedly linked to insurer Aviva. Broadbent's experience has been hailed by analysts: previously he worked both in the City (Schroders) and for the government (Treasury department and Customs & Excise, for which he was later knighted). 

 

 

Questions or comments? Please feel free to contact the editors


Adidas wants to strengthen bond with small retailers

15/07/2018

German sportswear giant Adidas says it wants to strengthen its bond with small-scale retailers after they claimed Adidas is too aggressive in pushing its web shop, especially as they feel the brand is favouring large international chains as well.

Several candidates to take over Men at Work

12/07/2018

There are several takeover candidates for both the Dutch and the Belgian stores of the bankrupt clothing chain Men at work. The curator is confident an agreement should be reached today in Belgium.

Burberry sales increases thanks to new strategy

11/07/2018

The new strategy of the British fashion brand Burberry starts to render: the company had a 3% increase of revenue in their own stores last quarter. In total, Burberry has now a revenue of 479 million pounds (520 million euros).

FNG moves to Brussels stock exchange

06/07/2018

Belgian fashion group FNG has collected 60 million euros by issuing new shares. The new shares will be traded on the Amsterdam Stock Exchange and - for the first time - on the Brussels Stock Exchange as well.

Athleteshop ends its run

02/07/2018

Dutch sports web shop Athleteshop has filed for bankruptcy, after an abysmal year in which strings of complaints led to all sorts of problems. Social media and review sites were flooded with customers complaining about late deliveries.

Alibaba goes Turkish with stake in Trendyol

29/06/2018

Alibaba is the new strategic partner of Trendyol, one of the best-known e-commerce companies in Turkey. With this partnership, the Chinese retailgroup strengthens its presence in Europe.