Morrisons bosses are rumoured to be considering approaching former Asda boss Archie Norman to take on the chief executive role.
David Jones, deputy chairman, is searching for a replacement for current ceo Bob Stott, as well as a new finance director and up to four new non-executive directors.
Norman, who is credited with saving Asda from collapse ten years ago, is reported to be under consideration with the Telegraph claiming Norman and Jones have been in contact.
In the meantime, pressure is increasing on Sir Ken Morrison to step down from his role as chairman.
A third key shareholder group, the Pensions Investment Research Consultants, has now joined calls, from the National Association of Pension Funds and the Association of British Insurers, to urge shareholders to oppose Sir Ken’s re-election at the groups annual meeting next week.
Many City analysts are beginning to question the company’s management, with Sir Ken’s methods being described as autocratic.
The news follows the retailer’s fourth profits warning since its takeover of the Safeway chain.
