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Tesco Launches New Code Of Business Conduct

| International retailers

In the wake of the accounting scandal, and subsequent investigations by the SFO and Groceries Code Adjudicator, Tesco has launched a new Code of Business Conduct for its staff.

The code sets down minimum expectations and legal obligations for its staff across the group, providing guidance on key risk areas that may arise in all aspects of its business and dealings with suppliers. There are 21 of these covering areas such as prices & marketing, product standards, competition laws, GSCOP, ethical trading, fraud, bribery, and market abuse.

The code also actively encourages staff to report any misdemeanours or concerns via a new Protector Line with telephone hotlines and email contacts in each of the countries it operates.

In a covering note to staff, Chief Executive Dave Lewis says: “Our Code means more than just following the law and our policies. It’s about using our Values and Leadership Skills to guide our conduct and decision-making so that we are always doing the right thing at work and working in a fair, open and honest way.

“If you ever have concerns about your own conduct or that of another person, you must speak up straight away and talk to someone you trust, starting with your line manager. Alternatively, speak to your Personnel Manager or the Legal team. Or, if you feel the need to raise your concern anonymously, you can call Protector Line in complete confidence.”

Download a copy of the Code of Business Conduct from the Tesco website (PDF)

Meanwhile, Sky News reports that two-thirds of the executives suspended over scandal surrounding the group’s profit overstatement last year have now left the business. The report said that William Linnane, head of buying for impulse purchases, is now leaving Tesco as part of the programme of redundancies at its head office just weeks after being reinstated. Sean McCurley, a senior buying executive in Tesco convenience operations, has also been made redundant just weeks after returning to work.

Of the nine managers suspended as part of an internal investigation, Sky News said that two-thirds have now either left Tesco or are in the process of doing so. Dan Jago, Matt Simister, and Chris Robinson are the only ones who are remaining with the business.


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