Tesco announces board changes
Supermarket giant Tesco has announced a number of changes to its board.
Non-executive director and chairman of the audit committee Ken Hydon will retire from the board on 23 February 2013 after serving for nine years. In advance of Hydon’s retirement, Ken Hanna will become chairman of the audit committee with effect from 5 October 2012. At the same time, Sir Richard Broadbent will become a member of the remuneration committee.
Tesco said that Karen Cook will also be retiring on 23 February 2013 after serving for nearly nine years as a non-executive director and as a member of the remuneration committee and, previously, the audit committee.
In addition, Fabiola Arredondo will join the board on 23 February 2013 as a non-executive director and as a member of the audit committee. The retailer added that it hopes to benefit from Arredondo’s international strategic and operational experience in the internet and media sectors, as well as his extensive non-executive directorship experience.
Earlier this week Tesco announced that Dame Lucy Neville-Rolfe, its executive director responsible for corporate and legal affairs, will retire on 2 January 2013.
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