retail news in context, analysis with attitude

• The Financial Times reports that Tesco has hired a new chairman - John Allan, the former chairman of Dixons and co-deputy chairman of Dixons Carphone. Allan will replace Richard Broadbent, who, in the wake of a number of embarrassing financial disclosures about the company, had said he would step down as soon as new management was in place and a successor was identified.

Allan will begin his new role on March 1.

FT writes that he "will inherit one of the toughest retail jobs in the UK. Tesco is facing multiple ­investigations in the wake of the profit overstatement, including from the­ ­Serious Fraud Office, Financial ­Reporting Council and Christine Tacon, the Groceries Code Adjudicator, who polices how big supermarkets deal with their suppliers."
KC's View:
The only thing that worries me about this appointment is that one British executive search expert says that he has "a good record" and "is a pleasant and decent man." Which sort of reminds me of what my old seventh grade teacher, Mr. Kann, once told my dad about me in a parent-teacher conference - he said I was a good kid, which made my dad explode: "I know he's a good kid! What I want to know is why he can't do math and science!"