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What next for Morrisons’ FD, Richard Pennycook?

Richard Pennycook

A much-respected turnaround guy, his work reviving Morrisons
after a series of profit warnings and the failed integration of Safeway was
nothing short of miraculous. He and Bolland are considered a dream team, so
whether he might be considering following Marc to M&S – maybe FD Ian Dyson
is mulling his options after having been in the running for Rose’s job – he
isn’t saying.

He told The Times he would “think about” going for the top role at
Morrisons. Financial Director wonders if Pennycook wouldn’t get bored
at Marks. It’s been in the brown stuff, but its brand strength means it is
unlikely to need the sort of firefighting Pennycook is used to doing: a stab in
the dark says only a business up to its neck in the way that, say, National
Express or BA is, would offer the excitement Pennycook told us in 2008 he finds
“irresistible”.

Saying that, the CEO spot at Morrisons would cement his evident passion for
the business after five years there and we’d wager that, if it isn’t already in
the bag, he’ll be fielding headhunter calls as we speak. Whatever he does, it
won’t be boring.

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