Tuesday, 23 September 2014

Daily Mail does Tescogate...

Emailed in by MBK, from The Daily Mail:

Mr McIlwee joined Tesco in 2000 from PepsiCo, although some doubted his credentials because he had no background in running supermarkets. He was promoted to the board in 2009 and, that year paid £2,750,000 for a huge nine-bedroom gated home in the heart of a stunning 5,000-acre National Trust estate in Hertfordshire.

The Staffordshire-born executive lives in the house, now worth £4.2million, with his second wife, Lavinia, 44. The family home had an impressive convoy of cars outside yesterday, including a Range Rover and a BMW. A woman at the property said Mr McIlwee was not available for comment...

Since being appointed Tesco managing director last year, Chris Bush has split his time between a huge country estate in Hertfordshire and a second home in the south of France... Mr Bush, who is believed to be on a large six-figure salary, lives with his partner Tracy Johns, 51, and their daughter Emily, 16, in a huge £2.5million mansion on a private road in a small village...

John Scouler, who is also suspended, is a keen sports fan who spends his time away from work playing golf at top courses and posing with celebrities at football matches. The 46-year-old food commercial director lives with his wife Tanya, 44, in a £1.7million white brick house in Hertfordshire.

UK finance director Carl Rogberg, 47, lives with his partner Amanda Welin, 46, in an old farmhouse in Oxfordshire. The property is largely shielded from prying eyes by an eight-foot hedge line. It also boasts a gatehouse and an old bakery, which used to supply a neighbouring manor house.

Another suspended director, Matt Simister, was previously best known for accusing Tesco customers of being a major cause of food waste. He celebrated becoming a senior executive by moving with his 47-year-old wife Karen into a sprawling £1.735 million house in a village near Ware in Hertfordshire, in late 2010.

2 comments:

Shiney said...

I'm surprised people are surprised - this sort of thing goes on at ALL the majors.... and I should know.

Last year retailer M for instance.... oh no, can't say as we might lose our contract.

Mark Wadsworth said...

S, the interesting bit was the fact that they get up-front discounts from suppliers in order to buy shelf space.

I knew it went on, I just didn't realise the scale. Over what period you should recognise the income is a tricky topic, and I'm not sure that TESCO got it wrong anyway.