UK supermarket chain Morrisons may rope in Sir Terry Leahy as chairman

Leahy is one of the top contenders for the position due to his previous experience of working at Tesco as well as at B&M, according to British media reports.

If appointed to the post, he would replace Morrisons’ current chairman Andrew Higginson who joined the company in 2017.

CD&R had offered to acquire Morrisons, the fourth largest chain of supermarkets in the UK, for £5.5 billion in June, but it was rejected for undervaluing the retailer. The private equity firm made the new bid of £7 billion this month, trumping the £6.7 million offer from Fortress, a rival bidder.

ALCHEMPro News Desk (KD)