Morrisons Ousts Commercial Director Richard Hodgson
Richard Hodgson, who was the commercial director of Wm Morrison Supermarkets plc, has been kicked out the previous day by Morrisons, a recent report has revealed. The company announced that the director would leave with an immediate effect.
Analysts are of the opinion that the supermarket group was being squeezed between Tesco, Sainsbury and Asda on the sales front. All three of these are the chain's biggest rivals, the report finds.
Analysts say that some smaller cut-price competitors, including Aldi and Lidl, were causing problems for the group on the sales part. The same is most probably the reason why another senior director is being seen ousted.
Hodgson had joined the group that encircles some 60 stores with a market share of 15% in Scotland nearly two years ago. The report finds that he had been appointed for the commercial role from Waitrose.
There were concerns across the city that the group's expansion of upmarket offering is causing repellence by core customers. It is thus that Hodgson has been thrown out. Last April, it was Richard Lancaster, marketing and operations director, who had to quit from his role.
Group chief executive Dalton Philips is of the opinion that the group now needs to make more efforts to bring the sales back on track. "We think the relatively slow roll-out of new format stores and online are red herrings", said retail analyst Philip Dorgan.
New Zealand News
- Tesla to design & build affordable EV in China: Tom Zhu
- First deliveries of all-electric Porsche in Australia to take place this weekend
- Crown Resorts suffers record six-month loss due to COVID-19 closures
- Australia’s Crown Resorts 'not suitable' for Sydney gaming license: Inquiry Commission
- What Does Phasing Out Cheques Tell Us About Finance in New Zealand?