Morrisons has confirmed the appointment of David Potts as its new chief executive, as the supermarket seeks to restore its “trading momentum”.
In January, the company removed chief executive Dalton Philips after a sustained period of poor performance and falling profits.
Potts has more than 40 years of experience in grocery retailing, including as chief executive of supermarket chain Tesco in Ireland and, most recently, Asia. His appointment will become effective next month, and he will earn the same amount – £850,000 – as his predecessor, Morrisons said.
David Potts said: “Customers and Morrisons are a great combination to serve. This is a great British business with real potential and it is an honour to have been selected.”
Morrisons chairman Andrew Higginson added: “I am delighted to welcome David as our new CEO. David is the best retailer I have worked with in 25 years in the industry. Having worked alongside him for 15 years, I know he will bring to Morrisons a focus on the customer, a track record of delivery, flair, talent, and immense energy to his new role. He will lead our colleagues in the business from the front, and with distinction.”
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