LONDON, March 4 (Reuters) - Tesco, Britain'sbiggest retailer, has beefed-up its board with the appointmentof Byron Grote, a former BP chief finance officer, as anon-executive director from May 1.
The firm also said on Wednesday that non-executive directorGareth Bullock would retire from the main board on March 5 butremain on the board of Tesco Bank.
Tesco's board composition has changed dramatically in thewake of last year's four profit warnings and a 263 millionpounds ($403 million) profit overstatement that sent its sharesto a 14-year low and drew stinging criticism of the board'sfinancial oversight.
Richard Broadbent will be succeeded as Tesco chairman byJohn Allan on March 1. A new chief executive, Dave Lewis, andfinance director, Alan Stewart, were appointed last year.
Further non-executive changes were made last week.
Grote was BP's CFO from 2002 to 2011 and is also a formercolleague of Lewis at Unilever, having served as anon-exec there for nine years.($1 = 0.6521 pounds) (Reporting by James Davey; editing by Kate Holton)
Tesco (TSCO)
BP (BP.)
