Gerry Murphy, currently the Chairman of fashion brand Burberry and food ingredients maker Tate & Lyle, is set to take over the same role at Tesco.
The Irishman, who will take up the position on 1 September, replaces John Allan, after he resigned in June, saying allegations of inappropriate behaviour levelled against him risked becoming a distraction to the supermarket business.
Murphy will resign as Chairman of Tate & Lyle to focus on his new role at Tesco. He has previously served as a non-executive director of companies including British American Tobacco, Merlin Entertainments, Abbey National, and Reckitt Benckiser.
Murphy has also held senior leadership and commercial roles in retail and manufacturing. He served as Chief Executive of home improvement group Kingfisher for five years up until 2008. And he was previously Chief Executive of food maker Greencore and spent his early career at Diageo.
Commenting on Murphy’s appointment, Byron Grote, Tesco’s Interim Chair, said: “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. I know he will be a great support to Ken Murphy and our management team, who welcome his appointment.”
Murphy added: “Tesco has a very important role to play in its markets, serving customers, communities and the planet a little better every day. I’m fully committed to helping Ken and the Tesco team deliver on this purpose and very excited about the strategic opportunities for growth across the Tesco group.”
In a separate statement, Tate & Lyle said that Warren Tucker, its current chair of the audit committee, will take the Chairman role on an interim basis while it searches for a permanent successor.
NAM Implications:
- LinkedIn researchers will have also noted Mr Murphy’s considerable experience in finance.
- Worth anticipating a renewed emphasis on financial performance in Tesco?
- (A possible plus for NAMs that can calculate the cost and demonstrate value to the Tesco P&L)
