Dixons executive gets nod as Tesco chairman

Dixons Carphone co-deputy chair John Allan is to replace Richard Broadbent as Tesco chairman, the supermarket has said.

Allan will take up the role on 1 March, bringing to an end a search that begin last October when Broadbent said he would step down in the midst of Tesco’s £250m profit overstatement. The former chief executive of logistics firm Exel will head the Tesco board as CEO Dave Lewis attempts to revive the supermarket’s fortunes following the accounting scandal, a string of profit warnings and downgrades by ratings agencies. The appointment comes despite two top ten Tesco shareholders having pushed for the role to go to Archie Norman, a more experienced retail name who was the architect of As...