Tesco has said that its new chief financial officer Alan Stewart will be joining the company more than two months earlier than had originally been planned. The move follows the news on Monday that the supermarket giant had overstated its six-month profit expectations by £250 million.

Marks & Spencer, where Mr Stewart is currently CFO confirmed that he will be released from his period of gardening leave which has been in effect since July.

Tesco has launched an investigation headed by Deloitte into the impact the issue will have on its full-year results.

Four executives have been suspended over the issue, including including its UK managing director, Chris Bush, UK finance director Carl Rogberg, food commercial director John Scouler and the head of food sourcing, Matt Simister.