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May 5, 2006

UK: Morrisons chairman not stepping down

Rumours have been circulating once more that Ken Morrison has, or will, step down as a result of tensions between the chairman and the board of directors over the appointment of a new CEO. However, a spokesperson for the company told just-food, Morrison has not relinquished his leadership.

Rumours have been circulating once more that Ken Morrison has, or will, step down as a result of tensions between the chairman and the board of directors over the appointment of a new CEO. However, a spokesperson for the company told just-food, Morrison has not relinquished his leadership.

The company representative said that Morrison “has definitely not resigned,” adding that he has not indicated any intention to do so.

The chairman has come under increasing pressure from the company’s board of directors to quickly approve the appointment of a new CEO to take the place of Robert Stott. Stott’s departure from the company was announced in October, although he agreed to stay at Morrisons until a successor was in place.

Many commentators have suggested that the appointment will now take place before the company’s annual meeting on 25 May, with suggestions that various board members have threatened resignation if the process is not completed by this date.

“There has been loads of speculation,” the spokesperson confirmed. “But the company has not set a deadline or provided an update yet.”

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