Board Changes

Release date: 13 January 2015

Wm Morrison Supermarkets PLC

Board Changes

Chairman

In June 2014, Morrisons announced that Sir Ian Gibson planned to retire as Chairman. Andrew Higginson was appointed in July as Deputy Chairman and Chairman Elect, to take over from Sir Ian in 2015. Following a successful handover period, Morrisons today announces that Sir Ian will retire following the board meeting on the 22nd January and Andrew will succeed him as Chairman at that time. The Board wishes to express its gratitude to Sir Ian for his very considerable contribution to the company over the last eight years.

CEO

The Board of Morrisons also announces that it is to start the search for a new Chief Executive. Dalton Philips has been Chief Executive for five years and has led Morrisons through a period of significant change, both for the company and the industry. Dalton has agreed to continue in his role until the year-end results to ensure a smooth transition.

Andrew Higginson said:

"In the next chapter of Morrisons development, we need to return the business to growth. The Board believes this is best done under new leadership. I would like to thank Dalton for his contribution as CEO. He has brought great personal qualities and values to his leadership of the business, having had to manage against a background of considerable industry turmoil and change. He deserves particular credit for facing into and dealing with the pricing issues that have now become evident, for taking the business into the convenience and online channels, and for the steps he has taken to modernise the Company's operating systems. We wish him well for the future."

Dalton Philips said:

"Morrisons is a great company with exceptionally talented people and I have been very proud to have worked with them. Over the last five years, we have made many improvements to the business and given Morrisons strong foundations for the future. I wish every success to the company and all of my colleagues, who have, and continue to work so hard."

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