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Morrisons to name ex-Tesco finance director as new chairman -Sky News
July 28, 2014 / 8:47 PM / 3 years ago

Morrisons to name ex-Tesco finance director as new chairman -Sky News

July 28 (Reuters) - Britain's fourth-largest supermarket chain Wm Morrison is set to announce this week that its next chairman will be Andrew Higginson, a former finance director at No. 1 player Tesco, Sky News reported, citing a source.

Higginson, who left Tesco in 2012 and is fashion retailer N Brown's non-executive chairman, could be named for the role as early as Tuesday, the broadcaster said on its website. (bit.ly/X559tx)

Morrisons, under pressure after months of poor trading, said last month that incumbent Chairman Ian Gibson would step down at next year's annual general meeting.

The grocer has been struggling as British consumers shied away from big weekly shops to save money, buying little and often in local convenience stores or online.

It has also been hurt by competition from German hard discounters Aldi and Lidl.

Morrisons declined to comment. (Reporting by Richa Naidu in Bangalore, editing by David Evans)

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