Uncertainty over future of Tesco executives suspended after discovery of £260m profits overstatement

first_imgFriday 28 November 2014 4:32 am More From Our Partners Killer drone ‘hunted down a human target’ without being told tonypost.comA ProPublica investigation has caused outrage in the U.S. this weekvaluewalk.comFlorida woman allegedly crashes children’s birthday party, rapes teennypost.comAstounding Fossil Discovery in California After Man Looks Closelygoodnewsnetwork.orgSidney Crosby, Alex Ovechkin are graying and frayingnypost.comBrave 7-Year-old Boy Swims an Hour to Rescue His Dad and Little Sistergoodnewsnetwork.orgRussell Wilson, AOC among many voicing support for Naomi Osakacbsnews.comPolice Capture Elusive Tiger Poacher After 20 Years of Pursuing the Huntergoodnewsnetwork.orgNative American Tribe Gets Back Sacred Island Taken 160 Years Agogoodnewsnetwork.org whatsapp Emma Haslett Uncertainty over future of Tesco executives suspended after discovery of £260m profits overstatement by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May LikeMisterStoryWoman Files For Divorce After Seeing This Photo – Can You See Why?MisterStoryHero WarsThis game will keep you up all night!Hero WarsTele Health DaveRemember Pierce Brosnan’s Wife? Take A Deep Breath Before You See What She Looks Like NowTele Health DaveMaternity WeekA Letter From The Devil Written By A Possessed Nun In 1676 Has Been TranslatedMaternity WeekThe No Cost Solar ProgramGet Paid To Install Solar + Tesla Battery For No Cost At Install and Save Thousands.The No Cost Solar ProgramMoneyPailShe Was A Star, Now She Works In ScottsdaleMoneyPailFungus EliminatorIf You Have Toenail Fungus Try This TonightFungus EliminatorUltimate Pet Nutrition Nutra Thrive SupplementIf Your Dog Eats Grass (Do This Every Day)Ultimate Pet Nutrition Nutra Thrive SupplementThe Chef PickElisabeth Shue, 57, Sends Fans Wild As She Flaunts Age-Defying FigureThe Chef Pick Sharecenter_img Tags: NULL One of the executives suspended by Tesco after it discovered a black hole in its accounts has left the company, it is understood.The BBC reported this morning one of eight executives who were suspended when it revealed it had overstated profits by £260m had stepped down.  Tesco announced in September that it had overstated its full-year profit expectations, causing shares to plummet. The supermarket promptly suspended executives including UK chief executive Chris Bush, UK finance director Carl Rogberg and commercial director Kevin Grace.The company has since been placed under investigation by the Serious Fraud Office, while an internal investigation is being carried out by auditor Deloitte and Freshfields, the law firm. In the past year, 50 per cent has been wiped off the company’s market cap as it was hit by a series of catastrophes. Its rivalry with discounters Aldi and Lidl has caused it to lose market share – last month Kantar Worldpanel published figures showing its market share stood at 28.8 per cent, compared with 29.8 per cent this time last year.Tesco did not comment.Tap on the image, then pinch and zoom to see more detail on a mobile. Show Comments ▼ whatsapp last_img

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