17th Apr 2020 12:07
(Alliance News) - Tesco Personal Finance PLC, the banking unit of supermarket Tesco PLC, on Friday, named John Kingman as chair effective from July 7.
The company said Kingman will succeed Graham Pimlott who will be retiring after eight years in the role, adding that senior independent director Jim Willens will assume the role of interim chair for 12 weeks in order to smooth the transition.
Willens was previously chief executive at Newcastle Building Society and Dunfermline Building Society.
Kingman joined Tesco Bank as a director in November. He was previously chair at FTSE 100-listed life insurance & financial services company Legal & General Group PLC, and second permanent secretary at HM Treasury. He was also previously chief executive of UK Financial Investments, the government body responsible for managing the taxpayer's banking interests.
"On behalf of the board, I would like to thank Graham for his contribution to Tesco Bank, and for his leadership and stewardship as chair. Tesco Bank has a very clear purpose, which is to help Tesco shoppers manage their money a little better every day. I look forward to working with the board, our chief executive Gerry Mallon, and the rest of the team to deliver this," said Kingman.
Tesco shares were trading 0.9% higher at 237.80 pence each on Friday at midday in London.
By Ife Taiwo; [email protected]
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