Thursday, 2 November 2017

Tesco chief executive Dave Lewis describes 'shock' over misstated profits at fraud trial

Tesco chief executive Dave Lewis has told a jury of his shock and surprise when he learned of a £250m profit misstatement shortly after being appointed the boss of Britain's biggest supermarket.
He was giving evidence at the trial of three former senior directors who are accused of failing to correct inaccurately recorded income figures which were published to the City.
Carl Rogberg, John Scouler and Christopher Bush deny charges of fraud by abuse of position and false accounting.

Mr Lewis told the court he had already become concerned about the financial structure of the group following a preliminary meeting with finance executives on 14 August 2014, following the announcement of his appointment to replace Philip Clarke as chief executive.

SKY       News.