Morrisons looking for new MD

From the archive, first published Friday 8th Dec 2006.

The search is on for a new managing director at Morrisons after Marie Melnyk resigned from the board on health grounds.

Experts say chief executive Marc Bolland, who joined in September from Dutch brewer Heineken, may look to draw on his contacts when seeking her replacement.

Miss Melnyk will leave the Bradford-based supermarket chain on December 22 after 30 years with the company, at which stage she will "consider her options for the future, outside of Morrisons".

She had been tipped as a possible candidate for the chief executive role before Mr Bolland's appointment.

No details of her health problems have been released, but the company says she will leave "on the basis of medical advice".

Early indications suggested the market had not reacted badly to news of Miss Melnyk's resignation, with stocks down just a penny and a half yesterday.

Rob Kilner, of West Yorkshire stockbrokers Redmayne Bentley, said: "I don't think this has done Morrisons any harm, or any favours for that matter. There has been very little reaction.

"The stock price has come off its recent high but it had a very good run up to £2.75 mainly on the back of the board changes and the new chief executive Marc Bolland, who has pulled things together and has the pedigree to deal with large companies.

"Maybe he has got a lot of contacts. He is Dutch and may be looking to bring some of his buddies in. It would not be unusual."

Sir Ken Morrison said: "Marie has made an immense and immeasurable contribution to the company's success over many years.

"We are sad to see her go and thank her for all she has done. Her many friends and colleagues will miss her and we wish her well for the future."

Miss Melnyk said: "I have been privileged to have been with the company and to work within the British food industry for the last 30 years. This is the right decision for me and is at an appropriate time, given the company's improving position under the leadership of our new chief executive."

Mr Bolland said: "In the short time I have worked with Marie, I have been impressed by her skills and experience and I am grateful for the time she has spent supporting my own induction into the business. She leaves with my best wishes for the future."

Miss Melnyk joined the company in 1975, working in its Westgate store in Bradford.

e-mail: will.kilner@bradford.newsquest.co.uk