Tesco’s chairman John Allan steps down after complaints over conduct
TESCO chairman John Allan is stepping down days after he was linked to a growing scandal at Britain’s premier business lobby group.
Byron Grote, senior independent director, will stand in as interim chair until a successor is appointed, the UK’s largest grocer said in a statement on Friday (May 19).
Tesco said Allan’s tenure as chairman was due to end shortly and will end at the annual meeting in June.
The company said that four allegations had been made in relation to Allan’s conduct, in the wake of investigations into the Confederation of British Industry, the business lobby group.
Three were “vigorously denied” by Allan, the company said, and the other he had “unreservedly apologised” for.
One of the allegations related to Tesco’s annual meeting in 2022. The grocer said it carried out an extensive review of the allegation and had not identified any evidence or complaints in relation to that meeting.
Tesco also asked external counsel to consider the scope of its review – which did not identify any evidence or complaints in relation to his tenure as Tesco chair,” the company added. BLOOMBERG
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