Tesco has appointed deputy chairman David Reid non-executive chairman with effect from March 2004 when current chairman John Gardiner retires.

At the same time Rodney Chase - who was appointed as a non-executive director last July - will become deputy chairman and the senior non-executive director.

Gardiner said: “Good management succession is a hallmark of Tesco and these appointments are part of the board’s long-term evolution.”

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