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

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 largest retailer amid allegations of inappropriate behaviour in direction of girls.

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 mentioned 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 informed 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 mentioned.

“When the unproven allegations [which JA continues to vigorously contest] were exposed by The Guardian I sent an email out to all J&A’s mentors – with JA’s explicit prior knowledge and blessing – articulating that such a stepping back was already in hand and would continue to be executed on.

“John was, in fact, copied in.”

The Guardian reported lately that a number of girls 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 gown suited her determine, however mentioned he had swiftly apologised.

In an announcement on Friday, Tesco mentioned: “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 draw disquiet from his allies and different areas of company Britain, with investigations up to now having discovered no proof of great wrongdoing on Mr Allan’s half.

J&A Mentoring makes use of a roster of senior boardroom figures together with 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.

Read extra:
Tesco chairman John Allan to step down next month
John Allan accused of inappropriate behaviour

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 be listed as a mentor on the J&A web site.

Ms Joseph mentioned the agency that she and Mr Allan arrange had “a mission to provide confidence, challenge and empowerment to help already good leaders become great”.

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“We are quietly proud of the work we are doing, especially to support senior women stand taller and for leaders of diverse backgrounds to feel [a long overdue] right to their places at the table.

“John and I are obsessed with these causes and the enterprise has by no means been busier with our thirty first FTSE 100 consumer about to enroll, and our largest inhabitants of mentees up to now.”

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

A spokesman for Mr Allan mentioned he “remains a shareholder in J&A Mentoring Partners and will continue to act as a mentor”.