Tesco chairman Allan in talks to promote stake in company mentoring agency

John Allan, the Tesco chairman, is in talks to advertise his stake in a company which mentors executives at dozens of blue-chip corporations, it has emerged days after the announcement of his resignation from Britain’s largest retailer amid allegations of inappropriate behaviour within the course of women.

Sky Information 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 find out the enterprise in 2018, will keep involved with the company, he acknowledged in an announcement on Monday.

A few of his particulars are understood to have been far from J&A’s website online on Friday, when his resignation as Tesco chairman was launched to the stock market.

Ms Joseph knowledgeable Sky Information {{that a}} shareholder settlement created on the time of the company’s launch anticipated her shopping for his stake after 5 years.

“We began these conversations early in 2023 – some months earlier than any press protection concerning the CBI broke – and likewise that he would step again from the chair position to that of co-founder (which he continues to be),” she acknowledged.

“When the unproven allegations (which JA continues to vigorously contest) had been uncovered by the Guardian I despatched an email correspondence out to all J&A’s mentors – with JA’s specific prior info and blessing – articulating that such a stepping once more was already in hand and would proceed to be executed on.

“John was, after all, copied in.”

The Guardian reported not too way back that quite a few girls had alleged that Mr Allan had touched them inappropriately – which he strongly denied.

The Tesco chairman acknowledged having made one remark to a colleague on the CBI that her costume suited her decide, nevertheless acknowledged he had swiftly apologised.

In an announcement on Friday, Tesco acknowledged: “Whereas now we have obtained no complaints about John’s conduct and made no findings of wrongdoing, these allegations danger changing into 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 draw disquiet from his allies and different areas of company Britain, with investigations thus far having discovered no proof of great wrongdoing on Mr Allan’s half.

J&A Mentoring enterprise makes use of a roster of senior boardroom figures together with Cressida Hogg, the BAE Techniques 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’s battling to safe the survival of the enterprise lobbying group, the place Mr Allan was a predecessor, can also be listed as a mentor on the J&An internet site.

Ms Joseph mentioned the agency that she and Mr Allan arrange had “a mission to supply confidence, drawback and empowerment to help already good leaders turn into good”.

“We’re quietly proud of the work we’re doing, notably to help senior girls stand taller and for leaders of quite a few backgrounds to essentially really feel (a protracted overdue) correct to their places on the desk.

“John and I are captivated with these causes and the enterprise has by no means been busier with our thirty first FTSE 100 shopper about to enroll, and our largest inhabitants of mentees thus far.”

Ms Joseph already owns 80% of J&A Mentoring.

A spokesman for Mr Allan acknowledged he “stays a shareholder in J&A Mentoring Companions and can proceed to behave as a mentor”.

Originally posted 2023-05-22 09:45:05.