" Morrisons needs a different style of management, a better relationship with the City and more harmonious boardroom"
Sir Ken Morrison&'s decision to give a clear statement of intent as to his future role in the business that shares his family name was the right one to make - no matter how painful it must have been for him.
It has become increasingly clear in recent weeks that the only way Morrisons was ever going to recruit a new chief executive from outside the business was if candidates had a clear idea of Sir Ken&'s potential involvement in the business, both for the short and long term. To be more blunt, they probably wanted reassurances that if they took the job they would be free to make the changes they thought were required - without any interference from the big man himself.
They have a point: Sir Ken is a famously hands-on retailer. He&'s been that way for the 40 years that Morrisons has been a public company. And up until the Safeway fallout, his approach worked well for both the business and its shareholders (none of whom complained back then about his management style).
But things change. It&'s a bigger business that needs a different style of management, a better relationship with the City and a more harmonious boardroom. Oh yes, and it must appoint a new chief executive so the business can start moving ahead. We are told that the search is now approaching the final stage and a firm announcement will be made in a matter of weeks. That&'s City speak for: &"Now Sir Ken&'s agreed to move, our preferred candidate is more likely to say yes.&"
Whoever ends up in the hot seat, they will have to understand one thing, though: it doesn&'t matter whether or not Sir Ken is actually there; you&'ll always find yourself living partly in his shadow. That&'s because Sir Ken has an amazing track record and deserved reputation as one of our top retailers. Recent events don&'t change any of that.
Sir Ken Morrison&'s decision to give a clear statement of intent as to his future role in the business that shares his family name was the right one to make - no matter how painful it must have been for him.
It has become increasingly clear in recent weeks that the only way Morrisons was ever going to recruit a new chief executive from outside the business was if candidates had a clear idea of Sir Ken&'s potential involvement in the business, both for the short and long term. To be more blunt, they probably wanted reassurances that if they took the job they would be free to make the changes they thought were required - without any interference from the big man himself.
They have a point: Sir Ken is a famously hands-on retailer. He&'s been that way for the 40 years that Morrisons has been a public company. And up until the Safeway fallout, his approach worked well for both the business and its shareholders (none of whom complained back then about his management style).
But things change. It&'s a bigger business that needs a different style of management, a better relationship with the City and a more harmonious boardroom. Oh yes, and it must appoint a new chief executive so the business can start moving ahead. We are told that the search is now approaching the final stage and a firm announcement will be made in a matter of weeks. That&'s City speak for: &"Now Sir Ken&'s agreed to move, our preferred candidate is more likely to say yes.&"
Whoever ends up in the hot seat, they will have to understand one thing, though: it doesn&'t matter whether or not Sir Ken is actually there; you&'ll always find yourself living partly in his shadow. That&'s because Sir Ken has an amazing track record and deserved reputation as one of our top retailers. Recent events don&'t change any of that.
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