25th Feb 2015 07:12
LONDON (Alliance News) - Wm Morrison Supermarkets PLC Wednesday appointed former Tesco PLC executive David Potts as its new chief Executive, a role that will involve a push to turnaround the ailing grocer in the face of tough competition from German discounters Aldi and Lidl.
Potts, aged 57, began his career with Tesco in 1973 and rose to become its UK retail director and head of its Irish business before becoming head of its Asian business, according to Morrisons. He left Tesco in 2011 and has since been acting as a retail expert to several international advisory and private equity businesses.
"David is the best retailer I have worked with in 25 years in the industry. Having worked alongside him for 15 years, I know he will bring to Morrisons a focus on the customer, a track record of delivery, flair, talent, and immense energy to his new role. He will lead our colleagues in the business from the front, and with distinction," Morrisons Chairman Andrew Higginson, who is also a former Tesco executive, said in a statement.
"Customers and Morrisons are a great combination to serve. This is a great British business with real potential and it is an honour to have been selected," Potts said.
By Steve McGrath; [email protected]; @stevemcgrath1
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