Tesco asks one more senior executive to step aside

Reuters LONDON | Updated on March 12, 2018 Published on October 07, 2014

British grocer Tesco has asked a fifth senior executive to step aside as it investigates an estimated 250 million pounds ($402 million) overstatement of its first-half profit, the Financial Times reported.

Citing people familiar with the situation, the FT said Tesco asked Kevin Grace, commercial director, to step aside on Monday.

Tesco declined to comment on the report.

Tesco revealed the overstatement on Sept. 22 when the initial four directors were suspended.

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Published on October 07, 2014
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