FD overlooked for Morrisons CEO role

Richard Pennycook, Morrisons FD

It’s been a tough week for accountants in business.

Morrisons’ FD has been overlooked for the chief exec role at the supermarket
chain, sparking rumours he will follow the outgoing CEO.

Finance director Richard Pennycook was the bookies favourite to take the top
spot with odds of 11/10, but Dalton Philips, the current chief operating officer
of Canada’s largest food distributer Loblaw, has taken the role.

Pennycook may even follow outgoing CEO Marc Bolland to Marks & Spencer,
after suggestions that M&S’ FD Ian Dyson was looking to step up.

John Martin has stepped into the CFO role vacated by Steve Webster at stock
building supply business Wolseley. Reports indicate that new CEO, Ian Meakings,
was looking for fresh faces after last year’s £1bn rights issue at the company.

CIMA member Simon Laffin has been ousted as chairman of Mitchells &
Butler, after a long-running boardroom battle. Two-thirds of shares cast voted
against Laffin.

Battle for control at the bar and restaurant chain has seen several
executives leave in recent weeks. Laffin is a former Safeway FD.

Stockbroking company Panmure Gordon is losing its chief financial officer to
“other business interests” at the end of March. David Liddell has been with the
company since May 2005 and was previously at Durlacher since 2004 prior to its
reverse take-over by Panmure Gordon.

John Dent has left Baker Tilly after 25 years, moving to Horwath Clark
Whitehill. Dent is the new audit partner for the firm and has previously focused
on the entrepreneurial, financial services, manufacturing and charity sectors.

Former regional managing partner at BDO, Gary Ives, takes the reins as
principal with MacIntyre Hudson. Based in the Milton Keynes office, Ives.

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