Tesco’s former senior director Carl Rogberg on Wednesday was officially cleared of charges related to false accounting and fraud slapped on him in 2014.
Last year, the trial that began against Rogberg and former colleagues Christopher Bush and John Scouler was abandoned after the former Tesco UK finance director suffered a heart attack.
Then later in December, Bush and Scouler faced a re-trial and were acquitted.
THE 2014 SCANDAL
Back in September 2014, Tesco snowballed into a huge crisis forcing it to suspend four senior executives and call in investigators, all of it happening after the discovery of its profits being artificially inflated by £250 million.
The reports triggered a £2 billion wipeout in the value of Britain’s biggest retailer, following a whistleblower warning that supplier payments were erroneously booked, and business costs glossed over.
Then, Tesco had refused to name the individuals at the center of the investigation, but the media indicated that they were Bush, Rogberg, John Scouler, and Matt Simister.
Tyson Foods Inc. (NYSE: TSN) reported first quarter 2023 earnings results today. Sales rose 2.5% year-over-year to $13.2 billion. Net income attributable to Tyson was $316 million, or $0.88 per
Apple Inc. (NASDAQ: AAPL) this week reported its first revenue decline in more than three years, even as the high inflation continues to squeeze customers’ spending power. Sales of the
Chipmaker Qualcomm, Inc. (NASDAQ: QCOM) has reported lower earnings and revenues for the first quarter of 2023. The company also provided guidance for the second quarter of 2023. At $9.5