Non-executive Board changes

6 Oct 2014

Richard Cousins and Mikael Ohlsson will join the Board of Tesco on 1 November 2014 as Non-executive Directors.

Tesco PLC today announces that Richard Cousins and Mikael Ohlsson will join the Board of Tesco on 1 November 2014 as Non-executive Directors.

Richard has been Group CEO of Compass Group PLC since 2006.  He was a Non-executive Director of Reckitt Benckiser Group PLC from 2009 until May 2014 and of HBOS PLC and Bank of Scotland from 2007 to 2009.  He will bring valuable UK and international corporate experience to the Board.

Mikael was until September 2013 CEO and President of the IKEA Group.  He is a Non-executive Director of Volvo Car Corporation, Ikano S.A. and Lindengruppen.  He will bring valuable retail and international experience to the Board.

Sir Richard Broadbent, Chairman, said:

“I am delighted to welcome Mikael and Richard to the Board and know that their broad skills and experience will be a real asset to the Company in the coming years.  Mikael and Richard 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.”

ENDS

NOTES FOR EDITORS:

Richard Cousins

Prior to joining Compass in 2006, Richard worked for 15 years for BPB PLC, most recently as Group Chief Executive from 2000 to 2005, as well as a variety of roles including Corporate Planning and Business Development; Group Financial Controller; Managing Director, UK & US paper and packaging companies; and President of BPB Canada. Richard’s early career included roles at Cadbury Schweppes PLC and BTR PLC.

He is a member of the advisory board of Lancaster University Business School.

Richard holds a BSc in Mathematics from Sheffield University and an MA in Operational Research from Lancaster University.  He is married and has two children and lives in Buckinghamshire.

There is no other information required to be disclosed pursuant to LR9.6.13R in respect of Richard Cousins.


Mikael Ohlsson

Mikael worked for 34 years for IKEA, carrying out a wide range of roles across the business, including as store manager, marketing manager for IKEA in Sweden, MD and Country Manager IKEA Belgium, MD and Country Manager IKEA Canada, Managing Director IKEA Sweden and Regional Retail Manager for Europe, Southern Europe and North America in combination with responsibility for Group Staff Retail, becoming CEO and President of the IKEA Group in 2009.  Mikael was a member of the Executive Management Group of the IKEA Group from 1995 until 2013.

Mikael holds a diploma in Industrial Economy from Linköping Tekniska Högskola.  He is married and has three children and lives in the Netherlands.  He enjoys photography.

There is no other information required to be disclosed pursuant to LR9.6.13R in respect of Mikael Ohlsson.

 

For further information:

Media: Tom Hoskin 01992 644645
Investors: Chris Griffith 01992 644800

 

For more information please contact the Tesco Press Office on
01992 644645

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