Morrisons looks to internal
candidate for finance chief

Mr Strain joined Bradford-based Morrisons, the UK’s fourth largest supermarket chain, in 2009 as commercial and operations finance director, before becoming UK property finance director in 2011.

The city welcomed the appointment.

Analyst Caroline Gulliver at Espirito Santo said: “We expect this appointment to be a smooth transition for Morrisons given Trevor Strain’s experience of working at the group under Richard Pennycook and his time at Tesco.”

Mr Strain, who is a qualified chartered accountant and spent four years at Arthur Anderson, spent seven years at Tesco where he was a senior finance manager for a number of functions before being appointed UK property finance director in 2006 and then UK planning and reporting finance director.

Both Mr Strain and managing director of convenience stores Gordon Mowat were tipped as likely internal candidates for the job.

Mr Pennycook first announced his plans to leave Morrisons last June to concentrate on a “portfolio career” after eight years at the company.

Sir Ian Gibson, chairman of Morrisons, said: “After a thorough selection process I am delighted that Trevor Strain will be Morrisons’ new group finance director.

“He has a strong track record of financial leadership and his comprehensive understanding of our business will ensure continuity.

“Richard Pennycook has been an excellent group finance director who has made an outstanding contribution to the success of our business since he joined in 2005.”

“Of course he will remain with us until June 2013 to ensure a smooth transition of his responsibilities to Trevor.”

Dalton Philips, Morrisons’ chief executive, said: “I’ve worked closely with Trevor for three years and I’m confident that he has the qualities and experience to make an excellent group finance director, and that he will build further on Richard Pennycook’s legacy of a prudent approach to financial management, transparent reporting and open shareholder engagement.”

Mr Strain will be appointed to the main board in June 2013.

Morrisons said it has also appointed Casper Meijer as group trading director.

Mr Meijer joins from Dutch supermarket Albert Heijn, part of Ahold, and will take up the position early next year.

Mr Meijer has worked at Ahold since 2000, first as buying and merchandising director, then vice-president of European sourcing before holding various commercial executive positions with Ahold USA.

Mr Meijer will replace Richard Hodgson, who left as commercial director last month following disappointing sales.

Martyn Jones will continue as interim group commercial director until Mr Meijer has completed his induction into the business to ensure a managed handover.

Mr Philips said: “I am really pleased that Casper is joining Morrisons. His broad retail experience, and in particular his record and passion for offering customers fresh food at affordable prices is a great fit with Morrisons.

“He is well placed to help drive our trading strategy as we roll out our fresh format stores and expand into new channels including convenience.”

Mr Meijer started his career at consumer goods company Unilever as a marketing trainee.

Over 12 years he fulfilled various management roles in FMCG marketing in the Netherlands , as well as assignments in the Czech Republic and Hungary.

Last month Morrisons reported a deteriorating sales decline and said it had failed to get its selling points across to consumers.

It is now hoping to boost Christmas sales with a return to promoting value for money.