Former Head of Carrefour France Rami Baitiéh Succeeds Current CEO of Morrisons David Potts

David Potts, who led the supermarket chain Morrisons into private equity ownership, has announced his retirement after serving as Chief Executive Officer for nine years. His departure is scheduled for November, and he will be succeeded by Rami Baitiéh, the former head of the Carrefour France grocery chain.

Potts’s retirement comes a little over a year after the £7 billion takeover of Morrisons by the US private equity firm Clayton, Dubilier & Rice (CD&R), following an intense bidding war and regulatory approval. Morrisons stated that Baitiéh would work closely with David Potts during the transition period.

Sir Terry Leahy, the former Tesco CEO and now a senior adviser at CD&R, expressed gratitude to Potts for his dedicated service to Morrisons and its customers. Leahy commended Potts for skillfully leading the renewal of the Morrisons brand, navigating challenges such as the COVID-19 pandemic and the cost of living crisis, and leaving the company well-positioned for growth.

Morrisons reported a significant pre-tax loss of £1.5 billion in its most recent annual results, attributed in part to finance costs. Potts mentioned that he and Leahy had discussed succession plans since the buyout in 2021, with a clear understanding that he would step down if an outstanding successor was identified.

Potts intends to take a short break with his family before seeking opportunities to contribute to businesses and the UK’s economic recovery from the pandemic. In conjunction with Potts’s retirement, Morrisons reported its fifth consecutive quarter of like-for-like sales growth attributed to lower prices and a new loyalty program.

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