Tesco PLC — Board/Management Information 2021

Apr 14, 2021

National Storage Mechanism | Additional information

RNS Number : 3512V

Tesco PLC

14 April 2021

14 April 2021

Tesco PLC

CHANGES TO BOARD AND COMMITTEE COMPOSITION

Tesco PLC is pleased to announce that Thierry Garnier and Bertrand Bodson will join the Board as independent Non-Executive Directors with effect from 30 April and 1 June 2021, respectively. In addition, from those dates, Thierry Garnier will join the Remuneration Committee and Bertrand Bodson will join the Corporate Responsibility Committee.

Thierry Garnier is a highly experienced retailer and business leader who brings significant UK and international leadership experience and business acumen to the Board. He has been chief executive officer (CEO) of Kingfisher plc since 2019 and previously spent over 20 years at Carrefour, the French multi-national retailer. At Carrefour he held a number of senior roles, including CEO of Carrefour Asia, CEO of Carrefour International and managing director of supermarkets for Carrefour France, and was a member of the Carrefour group executive committee.

Bertrand is an accomplished business executive, who has run multi-billion pound businesses, with significant experience of digital transformation, technology and the application of AI.  He is chief digital officer at Novartis AG and was previously chief digital and marketing officer at Sainsbury's Argos, executive vice president for global digital at EMI Music and co-founder and CEO of Bragster.com. He has also held senior roles at Amazon and started his career at Boston Consulting Group.

The Company further announces that Mark Armour, Mikael Olsson and Deanna Oppenheimer do not intend to seek re-election to the Board at the Company's 2021 Annual General Meeting and will formally retire from the Board at the conclusion of the AGM.

Deanna Oppenheimer's retirement from the Board will mean that she also steps down from her role as Senior Independent Director and will be succeeded by Byron Grote.

John Allan, Tesco Chairman, said:

"I am absolutely delighted Thierry and Bertrand will be joining Tesco at an exciting point in its development.  I know that their broad range of skills and experience will be a real asset to the Company and further strengthen the Board's discussions and oversight.  The Board and I very much look forward to working with them over the coming years.

On behalf of the Board, I would like to thank Mark, Mikael and Deanna for their outstanding commitment and invaluable contribution to the Board and its Committees over a number of years. They have all brought excellent insights and wise counsel to the Board and its Committees, and we wish them well for the future."

There are no additional matters that would require disclosure under LR 9.6.13 R (1) to (6) in respect of Thierry Garnier and Bertrand Bodson.

For the purposes of section 430(2B) of the Companies Act 2006, Mark Armour, Mikael Olsson and Deanna Oppenheimer will receive their pro rata entitlement to Non-executive Director fees for the month of their departure date and they are not entitled to any payments for loss of office.

Contacts:

Investor relations	Chris Griffith	+44 (0) 1707 940 900
Media	Christine Heffernan	+44 (0) 330 678 0639

LEI Number: 2138002P5RNKC5W2JZ46

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