Morrisons hires former Tesco finance director Andrew Higginson as chairman

Morrisons has announced that Andrew Higginson, formerly a finance director at rival chain Tesco, will replace chairman Sir Ian Gibson when he retires in 2015.

Andrew Higginson retail experience will boost Morrisons

Morrisons is faced with falling revenue, losing £176m in the first quarter, and is currently engaged in a price war with continental discounters Aldi and Lidl.

Higginson, who is currently chairman of Poundland, will join the Morrisons board this October in the capacity of non-executive deputy chairman and chairman elect.

Outgoing Morrisons chairman Sir Ian Gibson said: “Andy Higginson has a tremendous reputation and a distinguished career at the forefront of retailing in the UK and I am sure he will be a huge asset to Morrisons.

“I am very pleased to welcome him to the board as deputy chairman and look forward to working with him to ensure a smooth transition to the chairman role.”

Higginson, added: "Whilst there are undoubted challenges in the industry at the moment, this is a fine business and I am looking forward to working with the great team at Morrisons who work hard every day to serve customers."

The news comes after the struggling retailer earlier this week announced a promotional partnership with Quidco to boost online sales.

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