Morrisons chief David Potts is standing down after nine years at the helm of one of the UK’s largest supermarket chains.
He will be replaced next month by Rami Baitiéh, previously the chief executive of Carrefour France.
Potts, who presided over Clayton, Dubilier & Rice’s £7bn acquisition of Morrisons, said running the grocer had been the “privilege of a lifetime”.
He added that he had several conversations with Sir Terry Leahy, Morrisons’ chair and senior adviser to CD&R, about succession planning since the buyout in 2021.
“We had a clear understanding that I was prepared to devote several more years to Morrisons if that was required, but that if an outstanding successor was identified . . . then I would step down.”
Read more about Morrisons here.