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Ex-Tesco directors cleared over £250m profit scandal

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Two former directors have been cleared of fraud and false accounting in
relation to a £250m overstatement of profits at Tesco.

Chris Bush, the chain’s ex-UK managing director, and former food commercial director John Scouler, denied the charges.

They were accused of being aware that income was being wrongly included in the company’s financial records to meet targets and bolster the company’s financial position.

The issue came to public attention in September 2014 when the UK’s biggest supermarket chain told the City that financial statements issued the previous month had overstated profits by about a quarter of a billion pounds.

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