Morrisons CEO Dalton Philips is to leave the supermarket group earlier than expected.
The UK's fourth-biggest supermarket announced last month (January) that Philips would leave after a slump in sales, but noted then that he would stay until a replacement had been found.
However, Morrisons confirmed in a stock market statement yesterday (12 February) that Philips would leave the retailer on Monday, 16 February.
The Daily Telegraph has claimed that Andy Higginson, the new chairman of Morrisons, has effectively taken day-to-day control of the retailer, sidelining Philips.
In its statement, Morrisons said: 'With the financial year closing on 1 February 2015, the board and Dalton Philips have jointly agreed that as the new financial year begins it is the appropriate time for Dalton to relinquish his responsibilities. Dalton will therefore step down from the board and leave the business on Monday, 16 February 2015.
'In the interim period, Trevor Strain will chair the management board and assume Dalton’s executive responsibilities. Andrew Higginson will also spend more time in the business until the new CEO is in place.'
No comments yet