Morrisons finance director Richard Pennycook has emerged as the firm favourite to take the top job at the supermarket, following the departure of Marc Bolland.
Speculation over the role is rife, with Bookmaker Paddy Power giving odds of 6/4 in favour of Pennycook landing the position of chief executive.
Pennycook carries a lot of weight with the Morrisons board, but faces stiff competition from external candidates, as the retailer looks to replace the Dutchman who left in November for Marks and Spencer.
Greg Lawless, analyst at Collins Stewart, told the Financial Times: "Richard Pennycook is solid, understands the business and is aware of the issues. But it is a big step up."
But some in the City continue to tip outsiders, given comments by former boss and one of the supermarket's biggest shareholders, Sir Ken Morrison, that Pennycook was not a retailer.
The retailer is also understood to be looking into operational management ranks of rivals J Sainsbury, Asda and Tesco as it looks to fill the vacancy.
Analysts expect Morrison to report sales growth - based on stores open at least a year - of about five to 6.5 per cent in the six weeks to 3 January, when it updates on Thursday.
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