There are reports this morning of “fresh tensions” in the Morrisons boardroom as the Bradford-based chain reluctantly continues its search for a new chief executive.
An article on The Guardian claims that non-executive directors believe chairman Sir Ken Morrison is blocking attempts to hire an external candidate to replace his close ally, Bob Stott. “Sir Ken is said to favour an internal appointment and has thrown his weight behind 47-year-old Marie Melnyk, the supermarket chain's executive managing director, who joined the company more than 30 years ago,” the article says.
A company spokesman insisted that internal candidates had not been excluded. "Nothing has been ruled out," he said.
The non-execs, however, are said to have the support of shareholders, and are reportedly determined to recruit an outsider to lead the company in the wake of problems since its takeover of Safeway, which led to five profit warnings being issued last year.
Next week, Morrisons is expected to publish annual profits that are badly dented by unexpected costs of the takeover. At one point last year the grocer's house broker ABN Amro was forecasting a £600m profit for the year. Morrisons does not intend to provide an update on the hunt for a new chief executive with its full-year results.
According to The Guardian, ames linked with the job “include Angela Spindler of Asda”.
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