Morrison Promotes Finance Chief, Making Him Heir Apparent

(Bloomberg) --

Wm Morrison Supermarkets Plc promoted finance chief Trevor Strain, putting him in line to eventually succeed Dave Potts at the U.K. grocer's helm.

As chief operating officer, Strain will take on responsibilities including manufacturing, the supply chain and online operations, the company said Wednesday.

The new role makes Strain the heir apparent to the 62-year-old Potts, who has been chief executive officer since 2015. The company did not detail any immediate succession plans, as Potts said he looks forward to “continuing to work closely” with Strain and Michael Gleeson, who will become chief financial officer.

“These two appointments are a result of strong management development plans at Morrisons,” Potts said in a statement.

The shuffle at Morrison follows the news in October that Dave Lewis will step down from the top job at larger rival Tesco Plc next year, handing the baton to drugstore executive Ken Murphy.

Morrison shares were little changed early Wednesday in London. They've fallen 8.5% so far this year.

To contact the reporter on this story: Eric Pfanner in London at epfanner1@bloomberg.net

To contact the editors responsible for this story: Eric Pfanner at epfanner1@bloomberg.net, Marthe Fourcade

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