Tesco Reportedly Suspends Finance Director Chris Robinson

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Mon. January 12th, 2015
- by Andrew McDaniel     

CHESHUNT, ENGLAND Only months after the resignation of Board Chairman Sir Richard Broadbent and the suspensions of eight top level executives, Tesco has reportedly added Chris Robinson's name to the list.

According to the Telegraph, Robinson, Tesco's Finance Director of its Food Sourcing Division, has been suspended as a result of his connection to the $421 million profit error scandal which has rocked the retailer over the past calendar year.

Dave Lewis, Tesco CEO

Despite the challenges surrounding his office, CEO Dave Lewis is confident in Tesco's ability get back on track and regain the enviable position it used to enjoy in the British retail community. Between closing underperforming stores and the launch of its new One Stop discount format, Lewis is firm in his belief that Tesco is heading in the right direction.

“We have shown ourselves that the expertise that exists within the team at Tesco is as good and strong as it's ever been,” he shared with BBC. “But we're not at all kidding ourselves that we've in any way turned the corner. There's an awful lot more that we need to do. We'll continue to invest in our business, but we also need to make some tough decisions. Obviously, we've announced some of these today.”

The success of this turnaround plan will be something that only time can tell, but Lewis' confidence is certaily reassuring. Stay tuned to ANUK as we continue to track the ongoing situation at Tesco.

Tesco

 
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