Sir Ken Concerned for Morrisons
By Laura Elliott.
The former chief executive of supermarket giant Morrisons, Sir Ken Morrison, has expressed his concern over the chain’s current strategy. Sir Morrison has warned that the management team may be losing touch with its customers, by taking the store into new, more upmarket territory.
This will come as a blow to the retailer’s management team, as Sir Ken ran the business for fifty-five years. As reported by The Telegraph, however, he now claims to be confused about what exactly the current management team at the supermarket chain, is trying to achieve.
He said that “Morrisons was a company with very clear objectives. Those objectives now are just a little bit more difficult to perceive. You can’t compete with everybody. I’d agree they look more like Waitrose than like Asda. And if that’s what you are looking at and trying to achieve that’s fine. You’ve got to be careful. The public enjoy value. Good value is not simply the price of something.”
The former executive’s criticism comes at a time when the retailer is experiencing a slow-down in both its sales growth and market share.
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