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Tesco, the UK’s biggest food retailer, with over 400, 000 staff, serving milions of customers each week online and instore, in the UK, Ireland, Central Europe and Asia.
Some of the key facts (Oct, 2020)
Not surprisingly, Tesco have statements that cover core purpose and values, their approach to paying tax and 11 ethics and compliance policies
See here for a summary of this information:
Tesco have a well defined section on their website to show their Board members, their Board Committees and their Executive Committees. See here for more detail on this:
Tesco’s Shareholder Centre https://www.tescoplc.com/investors/shareholder-centre/ gives you all the information you could ever want, and lists their major shareholders and debt investors.
This is a big, well run financially secure corporate organisation.
Why is this of interest?
However, recent history tells us that it has not always been so transparent.
In 2014 Tesco was accused of “false accounting” in a £250m accounting scandal and the Serious Fraud Office were called in to investigate. Eventually, in 2018, the case ended up in Court, where three senior Tesco employees stood trial.
Here is the FT review of the situation
So where were the stakeholders in all of this? As we will see later on, the role of stakeholders includes business ethics, corporate governance and corprate social responsibility. Here’s what the shareholders thought:
Shareholders file £100m lawsuit against Tesco over 2014 accounting scandal
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