BusinessCompany NewsGuardian boss quits Tesco board over tax libel row

Guardian boss quits Tesco board over tax libel row

Guardian Media Group chief executive Carolyn McCall resigns from Tesco board

The tax libel row between Tesco and the Guardian has seen Carolyn
McCall, Guardian Media Group chief executive, quit her non-executive roll at the
supermarket.

In a stock exchange announcement Tesco said McCall had decided to step down
from the supermarket’s board because of a ‘conflict of interest’.

Tesco chairman David Reid said he had accepted McCall’s resignation ‘with
regret’ as she had made ‘a strong contribution to the success of the business’.

Earlier in the week Tesco said it had no problems with McCall staying on the
board as a non-executive as she had absented herself from any discussions that
could have left her conflicted.

Tesco issued a High Court writ against the Guardian last week over a
series of stories the paper published about the retailer’s tax arrangements.

Tesco is disputing the articles which claimed it had avoided large sums in
tax through an offshore scheme. It disputes both the sums avoided and the type
of tax it avoided. It said the details of the transactions have or would be
included in its tax returns.

The action is believed to be the first ever libel suit brought over tax
avoidance allegations. Libel experts believe the case opens up new areas of
libel law.

Further reading:

Read
the stock exchange announcement here

Tesco backs Guardian executive on its
board

Related Articles

BDO replaces Deloitte as Mitie auditor

Audit BDO replaces Deloitte as Mitie auditor

4w Emma Smith, Managing Editor
CVR Global appoints partner in London office

Company News CVR Global appoints partner in London office

5m Alia Shoaib, Reporter
FTSE100 failing to provide adequate ethics information

Company News FTSE100 failing to provide adequate ethics information

5m Alia Shoaib, Reporter
Brand strength leads to fee income growth for RSM

Accounting Firms Brand strength leads to fee income growth for RSM

8m Emma Smith, Managing Editor
Mazars strengthens audit team with partner appointment

Accounting Firms Mazars strengthens audit team with partner appointment

8m Emma Smith, Managing Editor
Moore Stephens recruits new private client partner

Accounting Firms Moore Stephens recruits new private client partner

8m Emma Smith, Managing Editor
Magma Group announces merger, partner promotions

Accounting Firms Magma Group announces merger, partner promotions

8m Emma Smith, Managing Editor
BDO on ‘recruitment spree’ with multiple partner appointments

Accounting Firms BDO on ‘recruitment spree’ with multiple partner appointments

8m Emma Smith, Managing Editor