David Reid

David Reid Vows to Stay on as Tesco Chairman

To maintain the stability of the boardroom at Britain’s biggest retailer Tesco, David Reid has vowed to stay on as its chairman for at least another 18 months. Last week, the long-serving Chief Executive, Sir Terry Leahy said he would resign next year. It has been reported that Reid, 63, initially had decided to step down but now he has committed to stay.

Once Philip Clarke, the International Director, succeeds Leahy next March, David is tipped to remain for at least several months.