Warehouse chairman: CEO likely to go
Keith Smith, chairman of the Warehouse Group, has announced his chief executive Ian Morrice wants out.
Hot Topic
EARNINGS
© All content copyright NBR. Do not reproduce in any form without permission, even if you have a paid subscription.
Keith Smith, chairman of the Warehouse Group, has announced chief executive Ian Morrice wants out.
The announcement came after speculation Mr Morrice's position was under threat after disappointing sales over the Christmas period.
Mr Smith said the board was "comfortable with Ian's performance and has not met to discuss this with reference to recent trading results."
He also acknowledged Mr Morrice had been discussing retirement last year.
"Ian Morrice has discussed with the board his own desire to retire from the company in 2011, but no decision has been made regarding this as yet," Mr Smith said.
"An announcement on succession in the CEO role will be made in due course, as and when the matter is determined."
Matt Nippert
Mon, 17 Jan 2011
Mon, 17 Jan 2011
© All content copyright NBR. Do not reproduce in any form without permission, even if you have a paid subscription.
Free News Alerts
Sign up to get the latest stories and insights delivered to your inbox – free, every day.
Warehouse chairman: CEO likely to go
11599