Double appointment a ‘beam of good news’ for Tesco
Troubled retailer Tesco appointed the bosses of Ikea and Compass Group to its board.
Richard Cousins, ceo of Compass Group, and Mikael Ohlsson, ceo and president of Ikea, will both join Tesco on November 1, 2014 as non-executive directors.
Sir Richard Broadbent, Tesco’s outgoing chairman, said: “Ohlsson and Cousins have been updated on, and are wholly supportive of, the steps being taken by the new management team to rebuild trust in Tesco and to focus all the resources of the business to deliver value to our customers.”
Shore Capital analysts Clive Black and Darren Shirley heralded the appointments as a “light beam of good news” in a sea of darkness.