It appears that Morrisons, the UK supermarket chain, is undergoing a leadership transition with CEO David Potts stepping down in November after nine years in the role. His successor will be Rami Baitiéh, the former head of Carrefour France. This transition comes after the US private equity firm Clayton, Dubilier & Rice (CD&R) completed a £7 billion takeover of Morrisons in 2021.
Rami Baitiéh expressed his honor at taking on the leadership role and emphasized his intention to strengthen Morrisons’ connection with its customers and the communities it serves. CD&R’s senior adviser, Sir Terry Leahy, spoke highly of Baitiéh’s leadership capabilities.
David Potts, who led Morrisons into private equity ownership, praised his successor and mentioned that succession plans had been discussed with Leahy since the buyout in 2021. Potts plans to take a break before seeking further opportunities to contribute to business and the UK’s economic recovery from the pandemic.
Sir Terry Leahy also praised David Potts for successfully navigating Morrisons through various challenges, including the COVID-19 pandemic and the cost-of-living crisis. He believes that Potts leaves the company well-positioned for growth despite recent financial struggles.
This transition in leadership will be closely watched to see how Morrisons continues to evolve and compete in the UK’s supermarket industry under Rami Baitiéh’s leadership.