John Allan, the Tesco chairman, is in talks to promote his stake in a agency which mentors executives at dozens of blue-chip corporations, it has emerged days after the announcement of his resignation from Britain’s greatest retailer amid allegations of inappropriate behaviour in the direction of ladies.
Sky News has learnt that Mr Allan is negotiating the sale of his stake in J&A Mentoring to his co-founder, Anna Joseph, for an undisclosed worth.
Mr Allan, who helped to ascertain the enterprise in 2018, will stay concerned with the corporate, he stated in an announcement on Monday.
Some of his particulars are understood to have been faraway from J&A’s web site on Friday, when his resignation as Tesco chairman was introduced to the inventory market.
Ms Joseph advised Sky News {that a} shareholder settlement created on the time of the corporate’s launch anticipated her buying his stake after 5 years.
“We started those conversations early in 2023 – some months before any press coverage about the CBI broke – and also that he would step back from the chair role to that of co-founder (which he continues to be),” she stated.
“When the unproven allegations (which JA continues to vigorously contest) had been uncovered by the Guardian I despatched an e-mail out to all J&A’s mentors – with JA’s express prior data and blessing – articulating that such a stepping again was already in hand and would proceed to be executed on.
“John was, of course, copied in.”
The Guardian reported not too long ago that a number of ladies had alleged that Mr Allan had touched them inappropriately – which he strongly denied.
The Tesco chairman acknowledged having made one comment to a colleague on the CBI that her costume suited her determine, however stated he had swiftly apologised.
In an announcement on Friday, Tesco stated: “While we have received no complaints about John’s conduct and made no findings of wrongdoing, these allegations risk becoming a distraction to Tesco.
“On behalf of the board, I thank him for his substantial contribution to the enterprise.”
The circumstances of his departure from Tesco have begun to attract disquiet from his allies and other areas of corporate Britain, with investigations to date having found no evidence of serious wrongdoing on Mr Allan’s part.
J&A Mentoring business uses a roster of senior boardroom figures including Cressida Hogg, the BAE Systems chair, the Premier League chair Alison Brittain, and Adam Crozier, the BT Group chairman, to mentor up-and-coming managers.
Brian McBride, the CBI president who is battling to secure the survival of the business lobbying group, where Mr Allan was a predecessor, is also listed as a mentor on the J&A website.
Ms Joseph said the firm that she and Mr Allan set up had “a mission to offer confidence, problem and empowerment to assist already good leaders grow to be nice”.
“We are quietly pleased with the work we’re doing, particularly to help senior ladies stand taller and for leaders of various backgrounds to really feel (a protracted overdue) proper to their locations on the desk.
“John and I are passionate about these causes and the business has never been busier with our 31st FTSE 100 client about to sign up, and our largest population of mentees to date.”
Ms Joseph already owns 80% of J&A Mentoring.
A spokesman for Mr Allan stated he “remains a shareholder in J&A Mentoring Partners and will continue to act as a mentor”.
Content Source: information.sky.com