According to The Sunday telegraph, non-executive directors at Morrisons are threatening to quit over chairman Ken Morrison’s continued failure to appoint a new chief executive.
The report suggests that the resignations will come if a new ceo is not announced by the company’s annual general meeting in May. “If there isn’t a chief executive by the AGM, there’ll be resignations. The directors can’t let themselves get tarnished over this,” a source told the newspaper.
There have been several reports of alleged acrimony in the Morrisons boardroom, the latest being David Jones, Morrisons’ senior non-executive director’s threat to quit last year unless the company issued a profit warning.
The Sunday Telegraph says that the lack of a successor to the soon-to-leave Bob Stott caused a row at a board meeting on Tuesday. Morrison, 74, is said to have fuelled the fire when telling reporters he hopes to still be at the company in two to three years’ time.
The issue of Stott’s successor will top the agenda at Morrisons’ next board meeting on April 6.
No comments yet