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UK's Tesco Chief to Resign After Massive Accounting Gaffe

The head of British retail giant Tesco says he will step down following the revelation of a $422 million accounting discrepancy. An interim earnings report released Thursday included the news that chairman Richard Broadbent will leave the company after a three-year tenure. No specific date was given for his resignation. "A new management team is in place to address the root causes of the misstatement and to develop and implement the actions that will build the company’s...

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