The supermarket chain’s share price tumbled 11 per cent on Monday after it announced it had overstated H1 profits by £250m. Four executives were suspended and the company is conducting an international investigation into the error.

Chief financial officer McIlwee resigned on 4 April but had been due to stay on for six months to help the transition process.

But the firm said yesterday that he “has in fact not been called upon by Tesco and has not been involved or had any input to any financial matters or held any position of responsibility in the company”.

Tesco said a group of “senior finance personnel”, excluding McIlwee, has reported to the CEO over the intervening period.

New CFO Alan Stewart started in the role yesterday after being fast-tracked in an attempt to stem the crisis engulfing the group.

It follows the arrival of Dave Lewis as chief executive, who was himself fast-tracked into his role earlier this month following a separate profit warning from the country’s largest supermarket.

Ratings agencies S&P and Moody’s have put Tesco on review for a possible downgrade following this week’s revelations.