JODY HARRISON
SCOTTISH-raised businessman John Allan has been appointed the new chairman of troubled supermarket giant Tesco.
Mr Allan, 66, will replace Sir Richard Broadbent from March 1 and will be expected to turnaround a company which has suffered a sales slump in the face of competition from discount rivals Aldi and Lidl.
He grew up in Kirkcaldy, Fife, and entered the retail trade after graduating in mathematics from Edinburgh University in the early 1970s.
He is currently the chairman of housebuilder Barratt Developments and Worldpay, the credit card processing firm. He is also on the boards of Dixons Carphone and Royal Mail, but he will relinquish these.
His appointment will be a timely boost for campaigners fighting to save a Tesco branch in Kirkcaldy. Former Prime Minister and local MP Gordon Brown is due to meet the company's chief executive Dave Lewis next week to put forward a rescue plan.
The Serious Fraud Office is investigating Tesco over an accounting blunder involving rebates to supplies.
Mr Allan said: "I'm very pleased to be taking on this role at such a critical moment for the business and look forward to working with the new executive team and the board."
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