What Tesco's £250m Septimana Horribilis says about boards

FROM THE ARCHIVE: Battered Tesco chairman Sir Richard Broadbent will be even gladder than the rest of us that Friday has finally rolled around and that he is still in a job - for now anyway.

by Andrew Saunders

Most employees, had they presided over the emergence of a £250m accounting discrepancy, might not have been surprised to be relieved of their staff card and luncheon vouchers, and be escorted from the building on the spot.

Especially had they then compounded the folly with an ill-judged Rumsfeldian remark about such things always ‘being unnoticed until they are noticed.’

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