(Alliance News) - Barratt Developments PLC on Tuesday said John Allan will step down as chair from June 30.
The Leicestershire, England-based housebuilder said Caroline Silver, non-executive director and chair designate, will take over on June 30, earlier than the previously announced date of September 6.
"The board believes it is in the best interests of Barratt to accelerate the planned transition to the new chair of the board to prevent the ongoing impact of the allegations against John from becoming disruptive to the company," Barratt said.
The Guardian newspaper reported early this month that Allan, who has been Barratt chair since 2015 and also is chair of supermarket chain Tesco PLC, allegedly touched the bottom of a senior member of Tesco staff at the retailer's annual general meeting last June.
He was also accused of touching the bottom of a member of staff at the Confederation of British Industry business group during its annual dinner in 2019, where he was president from 2018 to 2020.
Last week, Tesco announced that Allan would be stepping down as chair on June 16.
Barratt said it has not received any complaints about Allan during his tenure at the company.
Barratt shares were down 0.8% to 497.20 pence each in London on Tuesday morning.
By Harvey Dorset, Alliance News reporter
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