UK: Waitrose’s Mark Price tipped to replace Bolland
By: just-food.com | 23 November 2009
Waitrose managing director Mark Price has been tipped as the leading contender to fill Marc Bolland's boots as chief executive of Morrisons.
Price could be tempted to move to Morrisons for an estimated GBP2m (US$3.3m) a year pay package, according to the Sunday Times.
It is understood that Price is liked by Morrisons founder Sir Ken Morrison, and he is also one of the retailer's biggest shareholders.
According to TNS, Waitrose's growth outstripped the other UK multiples over the 12-weeks to 6 September with sales of 11.2%.
And the group's 'Essentials' line, which purported to offer Waitrose quality at a more accessible price, has proved a hit under the stewardship of Price.
Price however, refused to discuss Morrisons at the weekend but told the Sunday Times he was loving Waitrose after several weeks of "stonking sales growth".
Waitrose said it had "nothing to add" to Mark Price's comments when contacted by just-food.
Bolland announced his move to Marks and Spencer on Wednesday. He will take over as its new chief executive, where he will replace Sir Stuart Rose in the New Year.
Morrisons has yet to name a replacement for Bolland, however names linked to the role include Asda chief merchandising officer Darren Blackhurst, Tesco's US boss Tim Mason and former Somerfield chief executive Paul Mason.
Sectors: Retail
Companies: Waitrose, Morrisons, Marks and Spencer, Asda, Tesco
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