7th Oct 2014 08:36
LONDON (Alliance News) - A fifth executive is understood to have been suspended by Tesco PLC over the supermarket group's overstatement of its first-half profits, Sky News reported Tuesday.
Kevin Grace, the group commercial director, is understood to be the latest executive suspended, Sky News said.
The company suspended four executives in September, including UK Managing Director Chris Bush and UK Finance Director Carl Rogberg, after it said it had overstated its profit guidance for the first half by GBP250 million.
http://news.sky.com/story/1348648/tesco-suspends-fifth-exec-over-finance-woes
By Sam Unsted; [email protected]; @SamUAtAlliance
Copyright 2014 Alliance News Limited. All Rights Reserved.
Related Shares:
Tesco