Henry Sweetbaum, a US citizen living in London with his family, has been remanded on bail to appear before Bow Street magistrates on 30 July.
Mr Sweetbaum resigned in 1996 after a scandal at the firm over a pounds 53m "black hole" in its accounts. The company booked suppliers' rebates against future sales in current-year profits, leading it to overstate profits for two years running.
Four other former directors - Trefor Wilmot Llewellyn, Geoffrey Battersby, Terrence Carson and Leslie Rosenthal - were charged on 26 May when Mr Sweetbaum was in the US on a business trip. Mr Llewellyn, the former group finance director, had resigned in August 1995 before the affair came to light.