Sources close to Morrisons have denied that the supermarket has started the hunt for a new chief executive in the wake of its £7bn takeover last year.
The private equity firm behind the supermarket, Clayton, Dubilier & Rice (CD&R), was reported to have started looking for someone to replace David Potts.
The Sunday Times newspaper had reported that Morrisons’ current CEO, who has been in the post since 2015, was looking to to step down in about two years.
However, a source close to CD&R told CityA.M. there was no search curently underway. It also denied reports that the firm has joined forces with headhunters Skill Capital.
It had been reported that the recruitment firm had already approached some potential candidates at the end of last year.
Speaking to the Yorkshire Post newspaper, a Morrisons insider also said that reports of Potts planning an exit were inaccurate.
The source said: “There may be some crossed wires here. David has certainly not signalled to anyone an intention to step down in two years.”
CD&R beat the Fortress Investment consortium at auction with a bid of £7bn for the supermarket last year.
Clayton, Dubilier & Rice (CD&R) bid 287 pence per share – 2 pence per share above their existing offer and just a penny above the 286 pence offered by a consortium led by SoftBank-owned Fortress Investment.