UK retail giant Tesco is understood to be searching for a chairman to replace David Reid.
The retailer has appointed recruitment agency Lygon Group to find a suitable replacement, The Daily Telegraph reported today (16 December), although it is not thought that Reid will leave the firm for another two years.
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Reid joined the Tesco board in 1985 and became chairman in 2004.
The succession planning comes as Sir Terry Leahy prepares to hand over the role of chief executive to Philip Clarke in March. His departure sparked a reshuffle of Tesco’s executive team.
Tesco declined to comment on the reports when contacted by just-food, while officials at Lygon could not be reached for comment.
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