Morrisons begins search for new CEO

// Morrisons new owners CD&R begin search for new CEO
// CD&R are working with headhunters from Skill Capital to find a replacement

Morrisons’ owners Clayton, Dubilier & Rice (CD&R) have launched a search for a new chief executive as current boss David Potts is expected to step down in about two years.

CD&R are working with headhunters from Skill Capital to find a replacement.

The headhunters began the search towards the end of last year, with the executive recruitment firm already approaching some potential candidates.

READ MORE: Morrisons launches prize draw to hand out £40,000

Morrisons was taken over by CD&R in October last year for £7 billion.

CD&R said it was committed to Morrison’s existing “strong management team”.

Potts has led Morrisons since joining the grocer in March 2015. He previously worked for Tesco for 39 years, joining the retailer at 16 and going on to lead its Ireland business, as well as its UK retail stores business.

He was then also appointed as chief executive of Tesco’s Asia business.

While Potts plans to remain in the role for the next two years, current chief operating officer Trevor Strain is said to have emerged as a potential internal candidate for the role.

Strain has sat on the board since 2013 and previously held the roles of Morrisons chief financial officer and group commercial director.

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