Sir Ken to retire
Trading improves at supermarket group.
Like-for-like sales in the 16 weeks to 21 May increased by 6% (3.7% without fuel).
Sales generated through new stores opened in 2005/06 contributed an additional 1.8% (1.8% excluding fuel), taking the sales uplift to 7.8% (5.5% excluding fuel) after adjusting for the effect of store disposals.
Wm Morrison said chairman Ken Morrison will retire from his post by January 2008 and said an announcement about a new chief executive will be made in two to three weeks.
“I have been Chairman of the company since it floated in 1967 but have today informed the Board of my current intention to retire as Chairman and a Director of Morrisons by the end of the next financial year in January 2008.” Sir Ken has been invited to become life president.
