Tesco has been trying hard to recover lost ground, both in terms of its reputation – after accounting problems, senior managers leaving, and the way it dealt with its suppliers – and fighting off discounters like Aldi.
Clearly it still has some way to go. According to the Institute of Directors it has the worst corporate governance of the top 100 listed companies.
The top 100 companies were judged on 34 factors including board effectiveness, audit and risk, director pay, return on shareholder funds, and relations with stakeholders. The index also included a public perception measure based on a survey of over 700 IoD members and accounting bodies.
Tesco performed badly on some key measures which had the most weighting such as audit and risk, and external accountability. In January it was found to have deliberately withheld money owed to suppliers and it also suffered the biggest loss in UK corporate history.
To make matters worse three former executives have just been charged with fraud and false accounting relating to Tesco’s exaggerated profits statement in 2014
Also down at the bottom are companies like Associated British Foods, Rolls Royce (currently having engine troubles), and Travis Perkins.
And at the top? British American Tobacco, Unilever, Diageo, and Next.