Corporate governance: Tesco Ranked Lowest of FTSE 100 Firms

Tesco, WPP and Berkeley Group are among the lowest-ranked companies for corporate governance according to a report released as companies are facing pressure to rein in runaway pay and show commitment to wider society. The Institute of Directors (IoD), which published the report, warned companies to improve how they are run after a year in which excessive pay for bosses and a string of scandals has once again battered the reputation of corporate Britain. Tesco came bottom of the rankings of FTSE 100 companies. The supermarket chain was brought down by the lowest scores for accounting and audit practices that were largely a hangover from an accounting scandal and a series of profit warnings in the past two years.