Tesco has begun the hunt for a new chairman to take over from David Reid.
Senior director Patrick Cescau, formerly of Unilever, will lead the process. The retailer has reportedly called in headhunting consultancy Lygon Group to assist with the search.
Reid has previously indicated that he would remain in the role for a transitional period as the supermarket’s new chief executive beds in.
Philip Clarke will take over from the outgoing Sir Terry Leahy in March. It is thought Reid could stay on as chair until the summer of 2012.
He has been chairman since 2004, having joined the retailer’s board in 1985.
The new generals of retailing (analysis; 6 November 2010)
Tesco adds two to board of directors (16 June 2010)
Editor's Comment: He's famed for his small ego, but Sir Terry will leave a big gap (12 June 2010)
Editor's Comment: When Sir Terry goes, contrast the succession planning with Morrisons (30 January 2010)