Tesco Shares Slump After Profits Error

Dave Lewis, CEO of Tesco, faces significant challenges including an accounting scandal, executive suspensions, and a major drop in share price. Tesco's financial losses have been revised upwards, and the chairman has resigned. The FCA is conducting an investigation, causing investor uncertainty. Market dynamics are shifting, with changes in consumer shopping habits affecting food retail. Tesco needs to adapt its strategy, but shareholders are concerned about the lack of a clear plan. The company must improve its offerings and availability to regain customer trust and stabilize its market position.

What are the expectations for Tesco's chairman following the recent events?

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What challenges does Tesco face in the near future according to the text?

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