Former Aldi chief might replace Morrisons’ Potts

Former Aldi UK chief executive Matthew Barnes is a possible candidate to replace current Morrison CEO David Potts.

Potts, a former Tesco director and an industry veteran, publicly insists he’s there for the duration. But the quickening pace of the search for his replacement is an open secret. He is expected to resign in 2024.

Morrisons chairman – the one-time Tesco chief executive Sir Terry Leahy –may have to roll up his sleeves and take the helm if a suitable replacement can’t be found, This Is Money reported.

Barnes was Aldi UK and Ireland CEO until 2018 and stepped down as co-speaker of the executive board of Aldi Süd last month.

Barnes is often credited for rapid growth of Aldi in UK. He reportedly used to do the final test in the sleek tasting kitchens at its Atherstone HQ, personally approving every new product and setting its price. He had joined Aldi in 1997 as a graduate.

Since being acquired by private equity firm CD&R in 2021, Morrisons has reportedly come under pressure because its sales growth has lagged behind those of competitors.

The supermarket, which was the UK’s fourth biggest until it was overtaken by Aldi last year, was the only major player except Waitrose to see sales drop in the last three months.

Apart from Barnes, Tesco executive Jason Tarry is another name which is said to be in the consideration for Morrison’s next CEO.