REG - Tesco PLC - Changes to Board and Committee Composition

TescoAnnouncement

10/04/2024 10:00

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RNS Number : 9423J  Tesco PLC  10 April 2024

10 April 2024

Tesco PLC

CHANGES TO BOARD AND COMMITTEE COMPOSITION

Tesco PLC (the 'Company') today announces that:

·    Byron Grote has confirmed that he plans to retire from the Board and
will not stand for re-election at the Company's 2024 Annual General Meeting
('AGM') to be held on 14 June 2024;

·    Carolyn Fairbairn will be appointed as Senior Independent Director
and a member of the Audit Committee with effect from the conclusion of the
Company's 2024 AGM;

·    Karen Whitworth will be appointed as Chair of the Audit Committee and
a member of the Remuneration Committee with effect from the conclusion of the
Company's 2024 AGM;

·    Melissa Bethell will be appointed a member of the Remuneration
Committee with effect from the conclusion of the Company's 2024 AGM and will
succeed Alison Platt as Chair of the Remuneration Committee when she steps
down from the Board at the 2025 AGM;

·    Thierry Garnier will step down from the Remuneration Committee and
become a member of the Sustainability Committee with effect from the
conclusion of the Company's 2024 AGM; and

·    Melissa Bethell, Bertrand Bodson, Carolyn Fairbairn, Thierry Garnier,
Caroline Silver and Karen Whitworth will become members of the Nominations and
Governance Committee with effect from 1 June 2024.  The appointments ensure
all Non-executive Directors are fully involved in key decisions regarding
Board and senior management appointments, succession planning and talent
development.

Tesco's Chair, Gerry Murphy, commented:

"On behalf of the Board, I would like to thank Byron for his significant
commitment and invaluable insights and contribution to the Board over the past
nine years, particularly in recent years as Senior Independent Director, Chair
of the Audit Committee and as interim Chair in the period prior to my
appointment in September 2023, and thank him for the thoughtful guidance
provided to me and my fellow Directors.

Carolyn, Karen and Melissa are experienced Board members. I am very grateful
that they have agreed to take on these additional responsibilities. Carolyn's
understanding of the macroeconomic, regulatory and political environment and
significant experience across the government, media and business sectors make
her ideally placed for the role of Senior Independent Director. Karen's retail
and financial background and experience as audit chair of a UK-listed company,
will be particularly valuable in the leadership of the Audit Committee.
Melissa's wealth of corporate and strategy experience both as an executive and
non-executive director and experience on remuneration committees both in the
UK and internationally will be welcomed on the Remuneration Committee."

In accordance with the Listing Rules, there is no further information required
to be disclosed pursuant to LR9.6.11R.

 

 

 

Tesco contacts:

Investor relations                 Chris
Griffith                         01707 940 900

Media
Simon Rew                           0330 678 0639

Company Secretary            Robert
Welch                       07793 222569

LEI number: 2138002P5RNKC5W2JZ46

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