Tesco Rumored to Appoint Gerry Murphy as Chairman
According to reports, Gerry Murphy, a respected figure in the city, is being considered as the next chairman for Tesco, replacing John Allan.
Murphy, aged 67, currently holds the chairman position at luxury fashion brand Burberry and sweetener manufacturer Tate & Lyle.
Allan’s departure from Tesco in May came after allegations of personal misconduct, including claims that he ‘grabbed’ an employee at an event in 2019, which he denies. Although Tesco’s internal investigation found no evidence of wrongdoing, it acknowledged the potential distraction caused by the allegations.
Gerry Murphy boasts an extensive and successful career in the retail industry. He has previously led companies such as B&Q-owner Kingfisher and held positions on the boards of Reckitt Benckiser and British American Tobacco. Additionally, Murphy chaired the European division of private equity firm Blackstone.
To assume the role of Tesco chairman, Murphy will step down from his current position at Tate & Lyle on September 1 to ensure he has enough capacity to fulfill the Tesco responsibilities.
Joining the £17.7 billion supermarket during a time when the industry is under scrutiny for allegedly profiting from the cost-of-living crisis, Murphy steps in after eight years of John Allan’s leadership. Allan took charge of Tesco during a period of extensive job cuts under former CEO Sir Dave Lewis.
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