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."
-
Christmas at Chatsworth: review of The Cavendish Hotel at BaslowMoneyWeek Travel Matthew Partridge gets into the festive spirit at The Cavendish Hotel at Baslow and the Christmas market at Chatsworth
-
Tycoon Truong My Lan on death row over world’s biggest bank fraudProperty tycoon Truong My Lan has been found guilty of a corruption scandal that dwarfs Malaysia’s 1MDB fraud and Sam Bankman-Fried’s crypto scam
