Knives out for Sir Ken

The UK media has got its claws into Morrisons, with this week's Sunday Telegraph the latest to point the finger at embattled owner Sir Ken.

After five damaging profit warnings in 15 months and amidst mounting speculation, the Telegraph story starts: "It is war in the Wm Morrison boardroom" and claims that the supermarket chain's non-executive chairman David Jones is "obsessed" with ousting the group's founder and driving force.

It is claimed that once four new non-executive directors are appointed in the next few weeks, Sir Ken "will be forced to stand down".

It is widely believed though that Sir Ken will not be moved until next summer at the earliest. The man who has built an empire is not expected to quit without a fight.

The Sunday Times said that he is prepared to risk upsetting shareholders by refusing to countenance certain boardroom nominations. He is also expected to front up to Jones, and risk receiving his resignation.

The Telegraph article quoted an ally of Sir Ken as saying: "David's obsession with getting ken out is causing real danger to the company.

"The executives support Ken and he also has long-standing relationships with suppliers. If anyone has to go it should be Jones."

Another insider added that Jones is "out of control' and "the sooner he goes the better".

However, institutional investors in the City are less than positive about the chances of Sir Ken staying, and there is a growing belief across the national media that a momentum is being created.

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