Tesco investors non-plussed by John Allan as chairman – he’s no Archie Norman say analysts February 18, 2015 Something to tick off Dave Lewis’ Tesco recovery to-do list: – appointing a new chairman. The milestone was finally passed after a near four-month search with the naming of Dixons Carphone’s John Allan as Richard Broadbent’s successor. What’s that done to Tesco shares? Not much. They edged up slightly in early trading and are [...]
Here’s everything we know about Tesco’s new chairman, John Allan February 17, 2015 After a four-month search, Tesco has finally revealed who will replace Sir Richard Broadbent as chairman. John Allan was chosen after “a deep and thorough process” to lead the supermarket's board as it attempts to recover from a wretched 2014. Allan, who commented that he was “very pleased to be taking on this role at such a [...]
Tesco appoints former Dixons Carphone deputy as new chairman February 17, 2015 Tesco has named John Allan as its next chairman following Richard Broadbent's decision to step down from the role. The beleaguered supermarket has turned to current Dixons Carphone deputy chairman Allan who will step into the role on 1 March. He will pay be paid a fixed salary of £650,000 for three years, inclusive of [...]
Tesco to cut up to 10,000 jobs amid overhaul February 15, 2015 Tesco could cut up to 10,000 jobs as part of a radical overhaul by chief executive Dave Lewis aimed at halting a slide in profits. Britain’s biggest supermarket, which employs around 314,000 staff, announced plans last month to save £250m a year by axing 43 unprofitable stores, shelving 49 new projects and closing its [...]
Tesco Bank moves into new mortgage territory with independent brokers February 15, 2015 Tesco Bank is extending its mortgage offering to include independent brokers, with the hope of dramatically increasing its customer base. In an interview with The Telegraph this weekend, the business said it would start selling the loans through intermediaries in 2016. The bank has already shown promise in the property market – [...]
Could Archie Norman be Tesco’s new chairman? These are the runners and riders for the supermarket’s top job February 14, 2015 Archie Norman is the latest City boss to be touted as Tesco’s successor to Sir Richard Broadbent who left last year in the wake of a profit scandal. The current chairman of ITV and former boss of rival supermarket Asda where he gained the reputation of being the turnaround king, is in “active talks” with [...]
Could Archie Norman be Tesco’s new chairman? These are the runners and riders for the supermarket’s top job February 14, 2015 Archie norman is the latest City boss to be touted as Tesco’s new top boss and a successor to Sir Richard Broadbent who left last year in the wake of a profit scandal. The current chairman of ITV and former boss of rival supermarket Asda where he gained the tag of being the turnaround king, [...]
German discounters Aldi and Lidl take 10 per cent slice of UK grocery sector February 13, 2015 Discounters Aldi and Lidl now account for more than 10 per cent of the UK's grocery sales, taking £1 in every £9.31 spent at supermarkets in the last three months. The German retailers' combined market share stood at 10.7 per cent for the 12 weeks to January 31, up from 9.3 per cent last [...]
Tesco is winning at Valentine’s Day. Here’s why February 11, 2015 Valentine's Day is just around the corner and what says love more than multinational retailers pushing their pink heart-shaped products you neither want nor need? Absolutely nothing. That's why between now and Saturday we will all be bombarded with adverts for all the chocolates you can eat (before the cocoa runs out) recipes for two, [...]
It’s high time supermarkets had a radical lesson in supply chain management February 10, 2015 Every year, the supermarkets hire substantial batches of high-flying graduates to work in their buying departments. The urban mythology is that these expensively-educated young people are paid to shout down the phone, browbeating suppliers to offer yet more discounts. This hectoring seems to be at the heart of the recent decision of the Groceries Code [...]