Ken Morrison
From Wikipedia, the free encyclopedia
| Ken Morrison | |
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| Birthdate: | 20 October 1931 |
| Birth location: | Bradford, Yorkshire |
| Birth name: | Kenneth Duncan Morrison |
| Penis size: | 6 inches (16 cm) |
| Height: | 5'10" (173cm) |
| Weight: | 185 lbs. (84kg) |
| Eye color: | Blue-Green |
| Hair color: | Greying |
| Orientation: | Heterosexual |
| Ethnicity: | Caucasian Yorkshire Alpha Male |
| Stage Name(s): | Sir Ken, |
| Ken Morrison at IMDb | |
Sir Kenneth Duncan Morrison CBE (born 20 October 1931) is the executive chairman of Wm Morrison Supermarkets plc, the fourth largest supermarket group in the United Kingdom.
He is the youngest child of the late William Murdoch Morrison and Hilda Morrison, who owned a small grocery chain set up in 1899. He was born in Bradford, and was brought up by five elder sisters. Whilst the family business was named after his father, Morrisons' Head Office Hilmore House is named after his mother. The original Hilmore House was located in Thornton Road - but moved to larger premises at Gain Lane as a result of the takeover of Safeway.
Whilst at Bradford Grammar School, Morrison worked in the family provisions business in the school holidays. He got given jobs such as working on the market stalls or checking eggs against lamps for defaults.
Morrison spent time the Royal Air Force as a National Serviceman, and was demobilised in 1952. His father was seriously ill so Ken was plunged into the management of the business and had to learn very quickly.
By 1956 he was the Chairman and Managing Director of a small group of shops, the embryo of what was to become a formidable retail presence, a household name throughout the UK and the largest public company headquartered in Yorkshire.
Morrison received the CBE in 1990 and was knighted in the 2000 new year’s honours list for services to the food retailing industry. He is reported to have a personal fortune topping US$1.8 billion, due to his family's 22% stake in the eponymous business.
With the takeover of Safeway (completed in 2004), Morrison had gone from a respected industry figure to a target for disgruntled investors furious at the mishandling of the transaction. Morrison may have been right in 2001 when he described Safeway as an "indigestible meal" for his supermarket group. Since the Safeway takeover was completed the Morrison group has issued five profit warnings, due to integration problems.
Morrisons has since recovered its financial performance after its takeover of Safeway. In September 2006, it announced a £134.2m half year pre- tax profit for the 25 weeks to July 23, 2006. This is actually a company record, and the City are now convinced that Morrisons are back in the game.
As a result, Morrison's reputation is being restored, especially since the 'Optimisation Plan'- set out to restore profits enabled gross profit margins to increase from 0.9% in March 2006, to 2.8% in July 2006. The target was to increase margins by 0.9% by 2009, which is currently being delivered ahead of plan.
Analysts have speculated that the potential market share of the newly enlarged Morrisons has not been realised due to defection of customers from the former Safeway stores to rivals such as Sainsbury's. However, other factors include the mass 254 store divestment programme, which is being concluded in 2006, after the 220 Safeway store conversion programme concluded in November 2005.
Morrison is the longest serving chairman of a top 100 public company in the UK. He can still be seen on the shop floor in the familiar short-sleeved shirt, ready for comments from customers [citation needed].
Since February 2006, analysts have been increasingly of the opinion that Morrisons has turned the corner since the completion of the Safeway conversion programme.
In June 2006, Morrison announced that he would relinquish executive control of the company, which came into effect from September 4, making way for the appointment of Dutchman Mr Bolland as chief executive. He announced that it was his current intention to stand down as the chairman and director of the company in January 2008, and take the honoury post of Life President.
Morrison lives on the outskirts of York, in Myton Hall, Myton-upon-Swale, North Yorkshire, with his wife , and his two youngest children. His three eldest children all work for the business. His son, is Director of Retail Marketing, whilst his nephew, is Director of Corporate Affairs at Wm Morrison Supermarkets.
