Dalton Philips to leave Morrisons on Monday

MORRISONS chief executive Dalton Philips is to leave earlier than expected after the retailer announced his last day will be Monday.

Chief financial officer Trevor Strain will take on the day-to-day responsibilities and chair the management board while chairman Andrew Higginson, who was on Tesco’s board for 15 years, will take more of a hands-on role until Mr Philips’ replacement is in post.

Initially, Mr Philips was due to stay on until the company’s annual results were published, but will instead depart two weeks after the end of its financial year.

Morrisons said the recruitment process is “progressing well” as it looks for the person to turn around its recent sluggish performance that.

Mr Higginson said: “We’re making good progress with the search for a new CEO.  With Trevor Strain chairing the management board, together with the retailing strength and depth that I’ve seen in my short time at Morrisons, I’m confident that it will be business as usual during this transitional period.”