Morrisons’ CEO Dalton Philips to leave early
Morrisons has said that its chief executive Dalton Philips will step down earlier than planned.
The news follows the announcement last month that Philips would be leaving the business after a drop in festive sales but would continue in his role until the year-end results.
In a statement issued today, Morrisons said the search for a successor was progressing well. It added: “With the financial year closing on 1 February 2015, the board and Dalton Philips have jointly agreed that as the new financial year begins it is the appropriate time for Dalton to relinquish his responsibilities. Dalton will therefore step down from the board and leave the business on Monday 16 February 2015.”
In the interim period, Trevor Strain will chair the management board and assume the chief executive’s responsibilities. Morrisons’ chairman Andrew Higginson will also spend more time in the business until the new chief executive is in place.
Higginson said: “We’re making good progress with the search for a new CEO. With Trevor Strain chairing the management board, together with the retailing strength and depth that I’ve seen in my short time at Morrisons, I’m confident that it will be business as usual during this transitional period.”
