UK retailer Marks and Spencer said today (7 January) it is still waiting on a date for Morrisons to release chief executive Marc Bolland.
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Reports have claimed that M&S and Morrisons are in a “tug-of-war” over Bolland, who was named as the former’s new chief executive in November.
There have been claims that lawyers have been called in to thrash out a deal for Bolland’s release.
However, an M&S spokesperson told just-food that the company had not resorted to legal advice and that the release date for Bolland was at the discretion of Morrisons.
“We are just waiting on a date, but it is not true that lawyers have been contacted,” the spokesperson said.
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By GlobalDatajust-food understands that Bolland has a one-year rolling contract and it is standard practice when considering chief executives that talks will continue until a compromise is made.
Morrisons declined to comment on whether the retailer had been contacted by lawyers, but a spokesperson said: “Negotiations between Morrisons and Marc regarding his departure date are ongoing.”
