Morrisons chairman Sir Ian Gibson to step down in 2015
Morrisons has announced that its chairman Sir Ian Gibson is to step down after eight years.
In a statement, the supermarket said Sir Ian had informed the board that he would not be seeking re-election at next year’s annual general meeting.
Morrisons said: “The board will conduct an orderly process to appoint a successor. The board welcomes Sir Ian’s continuing support as it implements its strategy. Further announcements will be made as appropriate.”
Sir Ian said: “This term will take me into my eighth year on the Wm Morrisons board, and this announcement gives the board time to conduct an orderly search for a new chairman and ensure a smooth transition.”
Never Miss a Retail Update!The news comes as The Guardian reports that management restructuring within Morrisons stores could lead to up 2,000 job cuts.
The newspaper said trials of three possible new management structures in around seven of the retailer’s new stores could affect managers looking after product categories such as fresh food or non-food across the 500 strong supermarket chain.
Last month Morrison reported a 7.1% drop in like-for-like sales in its first quarter after it struggled due to its lack of a significant online and convenience store business. The supermarket also announced that it had cut prices permanently on over 1,200 essential items as it looked to compete with rivals.
