Sir Richard Broadbent becomes Tesco chairman

David Reid had held the position since 2004 and retired after a career at the retailer including 18 years as an executive.

It was disclosed in May that Broadbent, the former deputy chairman of Barclays and previously aTreasury mandarin, would take over at the grocer.

Broadbent joined Tesco as a non-executive director on July 2. Broadbent was looking for another chairmanship after chairing train and bus operator Arriva for six years until it was sold to German company Deutsche Bahn last year.