Christies expected to name Tennant as new chairman

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SIR Anthony Tennant, the outgoing chairman of Guinness, the drinks giant, is expected to join the board of auctioneers Christies International, writes Neil Thapar.

Christies confirmed yesterday that it was in discussions with Sir Anthony over his possible appointment. A further announcement is to be made shortly.

It is understood that Sir Anthony will join the company in January. He is expected to succeed Lord Carrington as Christies' chairman after its annual meeting next May.

Lord Carrington has been closely involved in international peace initiatives in Yugoslavia in recent months. But his expected departure from the art auctioneer is not connected with the diplomatic role.

After joining Christies in 1988 for an initial three-year stint he stayed on to steer the group through a difficult trading period. Taxable profits have slumped from pounds 67m in 1989 to pounds 6.3m last year because of the collapse in the art market.

Sir Anthony's appointment is likely to be well received by the City. The shares rose 1p to 126p.