Investors rebuke Tesco exec for ‘bizarre' share sale

Tesco CEO Phil Clarke should decline his bonus to atone for approving a senior executive's share sale a week prior to its major profit warning, according to a leading investor in the company.

Tesco said last Friday its UK chief operating officer, Noel Robbins, was unaware of the forthcoming profit warning when he sold roughly £202,000 worth of shares earlier this month. An anonymous shareholder, cited by Reuters as a ‘top 20 investor' in the company, told the news agency Clarke should decline his bonus and called for a full account of events leading up to the share sale. "He is in a bit of a rocky position at the moment and he is going to have to do something fairly rapidly to convince people that he has control of this company. "It would be a nice gesture to pass on th...