Morrisons’ non-executive director Brian Flanagan has announced he will step down from the retailer’s board at this summer’s AGM.
Flanagan has held the position for six years and will shortly complete his second three year term after which he will not seek re-election.
Following a review and selection process by its Nomination Committee, Morrison’s will be reshaping its board with the appointments of Nigel Robertson, Johanna Waterous and Penny Hughes with immediate effect.
Chairman of Morrisons Sir Ian Gibson commented: “Brian Flanagan joined the Board of Morrisons at a critical time in its history and development and, throughout the last six years, he has provided wise counsel to the management team and the board.
“His contribution to the stable position which the Company now enjoys has been significant and he will step down at our 2011 AGM in June with the board’s appreciation for all of his hard work and dedication.”
Robertson has been made Senior Independent Director having served on the board since July 2005, and he will continue to serve as a member of the firm’s Corporate Compliance and Responsibility Committee.
Like Robertson Waterous and Hughes have both served on Morrisons’ Audit, Remuneration and Nominations Committees since joining the board in early 2010, and will now take up the respective positions of Chair of the Remuneration Committee and Chair of the Corporate Compliance and Responsibility Committee.
The board announcement follows strong year-end results published today, which laid out ambitious plans to expand the supermarket’s multichannel offering with the acquisition of US grocer FreshDirect.
Gibson added that the changes, in addition to Mark Gunter stepping down earlier this year, mean the board will now comprise an independent non-executive chairman, two executive directors, a senior independent director and three further independent non-executive directors.
“I am sure that Nigel, Johanna, Penny and Phil will continue to bring their wealth of experience and knowledge to our Board in the key positions which they now occupy,” he said.