Tesco’s brand turnaround could hit bump in the road after 3 execs charged with fraud

Tesco’s journey to turning around the perceptions of its brand could be about to hit a speed bump after three former senior directors at the grocer were charged with fraud in a £263m scandal.

Tesco

Carl Rogberg, the former finance director of Tesco UK, Christopher Bush, the former managing director of Tesco UK, and John Scouler, the former commercial director for food, have all been charged with one count of fraud by abuse of position and one count of false accounting.

In a statement Tesco said: “The last two years have seen an extensive programme of change at Tesco, but given this is an ongoing legal matter, we are unable to provide any further comment at this time.”

The Serious Fraud Office said that the alleged activity took place between February 2014 and September 2014. The men will appear in court on 22 September.

The allegations come at what had appeared to be the light at the end of a tumultuous tunnel for the grocer, which has managed to turnaround sliding sales in the last two consecutive quarters.

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