Non-execs threaten to resign at Morrisons
Supermarket group still searching for chief exec
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.