7th Oct 2019 07:02
(Alliance News) - Former UK Treasury official John Kingman has been lined up to become chair of Tesco PLC's financial services arm, and as a non-executive director at the supermarket chain, Sky News reported Saturday.
According to its sources, Sky News said that Kingman will replace Graham Pimlott after seven years in the role, once approval from City and banking watchdogs has been granted.
Kingman has been chair at insurance and pensions firm Legal & General PLC for three years since 2016. Prior to that, he was part of the UK Treasury for four years from 2012 to 2016, leaving as acting permanent secretary.
Should Kingman accept the Tesco Bank role, it would reaffirm his recent assertion that he is not a candidate to replace Mark Carney as the Bank of England's governor, Sky News noted.
https://news.sky.com/story/ex-treasury-mandarin-kingman-to-chair-tesco-bank-11828196
On Wednesday last week, Tesco Chief Executive Officer Dave Lewis announced he will step down next year. Lewis will be succeeded by Ken Murphy the former commercial chief of retail pharmacy Walgreens Boots Alliance Inc.
By Dayo Laniyan; [email protected]
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