THE RETAIL BULLETIN - The home of retail news
HOME
RETAIL NEWS
RETAIL EVENTS
Fashion
Department Stores
Shopping Centres & Retail Parks
Home & DIY
Electricals
Health & Beauty
General Merchandise
Entertainment
Sports & Leisure
Retail Solutions
Food & Drink
RETAIL INSIGHTS
RETAIL SOLUTIONS
ABOUT US
CONTACT US
SUBSCRIBE FOR FREE
Sir Ken Morrison lambasts Morrisons management at AGM

Former Morrisons chairman Sir Ken Morrison openly criticised the supermarket’s leadership at its AGM yesterday.

GENERAL MERCHANDISE

Sir Ken Morrison lambasts Morrisons management at AGM

Sir Ken, who left the business in 2008, described Morrisons’ results as "disastrous".

He was extraordinarily frank in his comments directed at chief executive Dalton Philips who joined the business in 2010 when the company did not have an online grocery or convenience store business.

Sir Ken said: “When I left work and started working as a hobby, I chose to raise cattle. I have something like 1,000 bullocks and, having listened to your presentation, Dalton, you’ve got a lot more bulls**t than me.

He added that he had warned in 2009 and 2012 that changes being implemented by directors would seriously damage the business and said he had been proved right.

Morrisons made a £176 million loss in the year to 2 February 2014, down from a profit of £879 million the year before. Last month the supermarket reported a 7.1% drop in like-for-like sales in its first quarter and also announced that it had cut prices permanently on over 1,200 essential items as it looked to compete with rivals.

The supermarket launched its online grocery business late last year and is aiming to cover 50% of the UK by the beginning of 2015. It is also playing catch-up with its convenience business and has a target of 200 stores by the end of 2014/15.

Earlier yesterday it was announced that Morrisons chairman Sir Ian Gibson will step down in 2015.

 

Email this article to a friend

You need to be logged in to use this feature.

Please log in here

Subscribe For Retail News

RETAIL EVENTS

Retail Human Resources Summit
Retail Human Resources Summit
Wednesday 3 October 2018
The Cavendish Conference Centre, London W1
The 10th HR Summit 2018, The Cavendish Conference Centre, London W1, 3rd October 2018
The Retail Design Summit 2018
The Retail Design Summit 2018
14 November 2018
The Cavendish Conference Centre
The Retail Design Summit 2018
Omnichannel Futures Conference 2019
Omnichannel Futures Conference 2019
6 February 2019
Cavendish Conference Centre, London WG1 9DT
A truly omnichannel offering requires an understanding of customer behaviour across all shopping channels and how this should impact your overall business strategy
Customer Engagement Conference 2019
Customer Engagement Conference 2019
5 June 2019
Cavendish Conference Centre, London W1
The 10th Annual Retail Customer Engagement Summit
National Minimum Wage Breakfast Briefing
National Minimum Wage Breakfast Briefing
20 September 2018
6th Floor 1, St. Martin's Le Grand London, EC1A 4AS
National Minimum Wage Breakfast Briefing