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Tesco suspends another three executives

Tesco has asked three more executives to leave their posts in the wake of the investigation into a £250m overstatement in profits, taking the total to eight.

A Tesco spokeswoman said: “We have asked three employees to step aside to facilitate the investigation into the potential overstatement of profits in UK food for the first half of the year. We will provide an update on the investigation with our interim results on October 23.” She declined to provide further details.

The troubled supermarket chain suspended commercial director Kevin Grace last week and appointed Compass Group chief executive Richard Cousins and former Ikea president Mikael Ohlsson to its board of non-executive directors.

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