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


LVMH acquires Dior

25/04/2017

French luxury group LVMH has agreed to acquire fashion brand Christian Dior’s final 26 %. In return, it will pay 12.1 billion euro.

Jimmy Choo is looking for a new owner

24/04/2017

Shoe brand Jimmy Choo put itself up for sale after a deal with investor JAB, which currently owns 70 % of shares.

H&M wants clothing to become recyclable by 2030

24/04/2017

At the H&M Foundation-organized Global Change Awards, Karl-Johan Persson, Swedish fashion company’s CEO, said all of the group’s clothing should be fully recyclable by 2030.

Profit alert for lingerie manufacturer Van de Velde

20/04/2017

Belgian lingerie manufacturer Van de Velde, best known for its Marie Jo and PrimaDonna brands, expects its 2017 financial results to come under pressure. The company immediately announced additional investments to stimulate growth.

Primark only achieves growth through store openings

19/04/2017

Irish fashion chain Primark has seen its turnover grow more than 20 % in the past six months, but that was only thanks to new store openings and positive exchange rate fluctuations.

C&A launches 'cradle-to-cradle' collection

19/04/2017

Fashion chain C&A is launching a "Cradle to Cradle Certified Gold" t-shirt collection in June. These can be entirely recycled or reused and C&A says the shirts can even be thrown on the compost heap.

Back to top