Morrisons appoints new non-exec director
Taking up her new position on 1 September, Richards will also chair the supermarket’s audit committee.
Richards worked in the professional services sector for over twenty five years, where she operated as a senior adviser in corporate finance and strategy. Morrisons said she would bring extensive experience of restructurings, mergers and turnarounds to the role.
Richards’ current roles include senior independent director at Grainger and non-executive director at Aviva UK Life & Pensions. She also serves on the Advisory Group of Audit Committee Chairmen at the Financial Reporting Council and is a member of the Governing Council of the Centre for the Study of Financial Innovation, a not for profit think-tank focused on research in financial services.
Morrisons has also announced that Philip Cox has decided to stand down from the board at the end of the calendar year as a part of a planned board succession. He will continue as chairman of the audit committee through the company's interim results, and to ensure a proper handover to Richards in the months ahead.
Andrew Higginson, chairman of Morrisons, said: "Belinda Richards brings an impressive knowledge of the UK retail sector and has worked in many turnaround situations. I am pleased to welcome her to the Morrisons board. I would also like to thank Phil for his contribution to the board over the last six and a half years. We will announce his successor as senior independent director in due course."
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