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.
Comments
Comments have to be in English, and in full sentences. They cannot be abusive or personal. Please abide by our community guidelines for posting your comments.
We have migrated to a new commenting platform. If you are already a registered user of TheHindu Businessline and logged in, you may continue to engage with our articles. If you do not have an account please register and login to post comments. Users can access their older comments by logging into their accounts on Vuukle.