Investors have told Morrison’s officials that their new non-executive director Paul Manduca should not take over from Sir Ken Morrison as chairman when he steps down.

It is speculated that Manduca is not considered to be the right candidate to take over, lacking in long-term experience of running successful companies. It is also feared that in his short time at Morrison’s, Manduca has become too close to Sir Ken.

Manduca has been a fund manager for 30 years and ran Rothschild Asset Management before taking the post of European chief executive of Deutsch Asset Management.

Sir Ken has already retired from some daily duties as chairman, and many expect him to formally leave next year after running the company for 50 years.

Topics