Morrison says CEO's departure will not affect performance

11/20/2009 | Reuters

Morrison has posted a slowdown in its sales growth, but said the surprise departure of CEO Marc Bolland, who will become head of Marks & Spencer, will not affect the grocer's performance or potential. "He's been a great member of the team, and we're sorry to see him go," Finance Director Richard Pennycook said of Bolland. However, "[t]here's real strength and depth of management, and we have ample ideas for the future."

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