Tesco suspends fifth senior director as its chairman considers resigning

Tesco has suspended its fifth senior director as the retailer tries to regain consumer

trust as the company is under investigation from the Financial Conduct Authority for an overestimation of 250 million pounds for its first-year profits.

The retailer's commercial director Kevin Grace was asked to step aside on Monday, according to the Financial Times. Company Chairman Richard Broadbent added that he may consider resigning from his position within Tesco's, a role he has held since 2011, once their investigation into the company's accounting is complete, said people familiar with the matter.

Tesco's company board previously asked accountancy firm Deloitte and its external legal advisers Freshfields to conduct “an independent and comprehensive review” of the overstatement and the impact the issues may have on its full-year results.