Morrisons hires Post Office boss Paula Vennells as “restructuring” board strategist
Could there be more changes in store for Morrisons?
The struggling supermarket has hired Paula Vennells, the boss of the Post Office, citing her "restructuring" experience as being "invaluable".
Vennells will join the board as non-executive director from 1 January. She is taking over from Johanna Waterous, who is leaving after six years.
Vennells has been chief executive of the Post Office since April 2012, having joined the business in 2007. She has held a number of positions in the consumer sector, including group commercial director of Whitbread, and directorships in sales and marketing with a number of major retailers including Dixons Stores Group and Argos, having started out at Unilever and L'Oreal.
Vennells is one of the latest appointments under new chief executive David Potts, who is attempting to turn the business around – something he has already admitted will be a "long journey".
Another key appointment has been that of Neil Davidson, a former Morrisons supplier, who is expected to be able to improve the supermarket's relationships with its partners at a time when there has been considerable strain.
Chairman Andrew Higginson said: "I am delighted to welcome Paula to the Board. Her experience of restructuring and building a retail operation at the Post Office, her background in FMCG and her experience as a serving chief executive, will all be invaluable to the board going forward.
"I would like to thank Johanna for her help and support during my first year as chairman and for her work on the board over the last six years. We wish her well for the future."
Vennells added: "I am delighted to have the opportunity to join Morrisons and to work with the board to help to contribute to the company's turnaround."
Existing board member Irwin Lee will succeed Waterous as chair of the remuneration committee.