Following on from Finance Director Richard Pennycock's decision in the June to leave Morrison, the supermarket group has appointed Trevor Strain as his successor.
Strain joined the firm in 2009 as Commercial and Operations Finance Director, before being promoted to Finance Director Corporate in June of last year. Before that, he was the head of finance for Tesco UK Property for seven year.
He will be appointed to the main board in June 2013 when Pennycock, who is said to be embarking on a portfolio career, leaves the group.
Subscribe to MoneyWeek
Subscribe to MoneyWeek today and get your first six magazine issues absolutely FREE
Sign up to Money Morning
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
"After a thorough selection process I am delighted that Trevor Strain will be Morrisons new Group Finance Director," said Chairman Ian Gibson.
"He has a strong track record of financial leadership and his comprehensive understanding of our business will ensure continuity.
"Richard Pennycook has been an excellent group Finance Director who has made an outstanding contribution to the success of our business since he joined in 2005.Of course he will remain with us until June 2013 to ensure a smooth transition of his responsibilities to Trevor."
-
Barclays begins paying up to £100 compensation to customers after banking outageBarclays will pay up to £7.5 million in compensation to customers after its banking services were disrupted by an IT outage
-
Review: Shangri-La Paris – an ode to the world’s best foodNatasha Langan enjoys fine French and Chinese cuisine at the Shangri-La Paris
