Morrison Chairman Pick to Increase Pressure on CEO Philips
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Wm Morrison Supermarkets Plc picked former Tesco Plc Chief Financial Officer Andrew Higginson to become chairman, increasing pressure on Chief Executive Officer Dalton Philips to return the grocer to profit growth.
Higginson will join the Morrison board as non-executive deputy chairman on Oct. 1 and later take over from Ian Gibson, who is retiring next year, the Bradford, England-based retailer said in a statement today. Higginson, 57, will step down as chairman of Poundland Group Plc, one of the discounters whose success is hurting mainline grocers in the U.K.