• Reuters reports that Tesco CEO Philip Clarke said yesterday that he will not accept a contractually guaranteed bonus that is the equivalent of $588,000.

Clarke said that he "wasn't satisfied with the performance in the UK," and therefore would not take the bonus. "I'm confident that we're tackling the right issues," he added.

KC's View: Good for him.

it isn't like they are going to have to throw a benefit for Clarke, but sometimes it is important to make the right statement.