Cox checks out at Morrisons as Richards takes up audit chair
Richards is currently senior independent director of Grainger, where she also chairs the audit and remuneration committees
SUPERMARKET giant Morrisons has appointed Belinda Richards as chairman of its audit committee and a NED.
Taking up her new position on 1 September 2015, Richards, who once headed Deloitte’s global merger integration and separation advisory services and also served as a vice chairman, brings “extensive experience of challenging and complex restructurings, mergers and turnarounds” to the grocer.
Currently senior independent director of Grainger, where she also chairs the audit and remuneration committees, she is also a NED of Aviva UK Life & Pensions. Richards serves on the advisory group of Audit Committee Chairmen at the Financial Reporting Council and is a member of the Governing Council of the Centre for the Study of Financial Innovation.
Andrew Higginson, chairman of Morrisons, said: “Belinda Richards brings an impressive knowledge of the UK retail sector and has worked in many turnaround situations. I am pleased to welcome her to the Morrisons board.”
The grocer also announced that that after six and a half years on the board, Philip Cox is to step down to at the end of year as a “natural part of planned board succession”. He will continue as chairman of the audit committee through the company’s interim results, and to ensure a proper handover to Richards.
Morrissons said it will announce his successor as senior independent director “in due course”.