Morrisons names new non-exec

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Morrison has announced the appointment of Belinda Richards as a non-executive director, and chairman of its audit committee. She will join the board of the Bradford-based supermarket on September 1.

Ms Richards has worked in professional services for over twenty five years, where she operated as a senior adviser in corporate finance and strategy.

She was the global head of merger integration and separation advisory services at Deloitte, where she was a senior corporate finance partner until her retirement in 2010.

Having operated predominantly in the UK and international retail and consumer sector and also in financial services, Ms Richards brings extensive experience of challenging and complex restructurings, mergers and turnarounds.

She is currently the senior independent director of Grainger PLC, where she also chairs the audit and remuneration committees, and is a non-executive director of Aviva UK Life & Pensions.

Ms Richards 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 focussed on research in financial services.

After six and a half years on the board, Philip Cox has decided to stand down at the end of this calendar year as a natural part of planned board succession. He has agreed to continue as Chairman of the Audit Committee through the company’s interim results, and to ensure a proper handover to Belinda 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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