TOP NEWS: Tesco picks Burberry and Tate & Lyle chair Murphy as chair

Mon, 03rd Jul 2023 08:52

(Alliance News) - Tesco PLC on Monday named Gerry Murphy as its new chair from September 1.

Murphy is currently chair of luxury fashion firm Burberry PLC and of sweetener and food ingredients supplier Tate & Lyle PLC. He will step down from his role at Tate & Lyle, however, to "ensure he has sufficient capacity" for his new role at Tesco.

Murphy also previously was chief executive officer of Kingfisher PLC and held non-executive directorships at companies including British American Tobacco PLC and Reckitt Benckiser PLC.

"He was the unanimous choice of the board and will bring to our board a record of strong and effective boardroom leadership and a deep understanding of retail and consumer-focused businesses and corporate governance," said Byron Grote, Tesco's interim chair.

Tate & Lyle said it has promoted Warren Tucker to interim chair pending the appointment of a new chair. Warren is currently chair of the Audit Committee and will continue in this role during the interim period.

Tesco shares were up 0.8% at 250.40 pence each on Monday morning in London. Tate & Lyle shares were down 0.6% at 721.50p.

By Xindi Wei, Alliance News reporter

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