Non-execs threaten to resign at Morrisons

Non-executive directors are threatening to resign from their positions on the
board at supermarket group Morrisons over its failure to appoint a chief
executive.

The Scotsman reported that a number of board members had threatened
to resign unless Ken Morrison sped up the search for a chief executive.

Four of the company’s five non-execs have been in their posts less than a
year.

In 2004, Morrisons appointed its first non-execs including David Jones, chief
executive of clothing retailer Next.

Corporate governance concerns were raised in 2002 when Morrisons revealed
that it did not have any non-execs.

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