Get 40% Off
🚨 Volatile Markets? Find Hidden Gems for Serious OutperformanceFind Stocks Now

Tesco remuneration committee head to step down

Published 12/31/2014, 04:46 PM
Updated 12/31/2014, 04:50 PM
© Reuters. Woman walks past a Tesco supermarket in central London

(Reuters) - The head of the remuneration committee at scandal-hit British grocer Tesco PLC (L:TSCO), Stuart Chambers, is set to step down, Tesco said on Wednesday.

Deanna Oppenheimer, a non-executive director, will succeed Chambers as chairman of the committee on Jan. 1, the company said.

Chambers has been on Tesco's board since 2010, and will remain on the board, Tesco said in a statement.

Tesco said in September it had overstated its first half profits by 250 million pounds, an accounting scandal that led to suspension and exit of several senior executives.

Chairman Richard Broadbent is among executives planning to leave the company after an investigation into the accounting scandal is complete.

(Reporting by Rishika Sadam in Bengaluru; Editing by Peter Galloway and Richard Chang)

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.