Turnaround at William Morrison Supermarkets PLC, 2004-2007

17 Pages Posted: 11 Dec 2015  

Steve Toms

University of Leeds - Leeds University Business School (LUBS); University of Leeds - Division of Accounting and Finance

Date Written: December 11, 2015

Abstract

The paper examines the turnaround in the fortunes of the UK supermarket chain William Morrison, which followed the takeover of Safeway PLC. Three elements of the turnaround process and their linkages are examined: the role of corporate governance, the stages of strategic planning and the role of key individuals. Evidence is drawn from interview notes with senior executives and contemporary press accounts. The case illustrates the importance of corporate governance in turnaround situations as the catalyst for management change, which can then facilitate the development of staged recovery plans.

Keywords: William Morrison plc, Safeway PLC, retail, supermarkets, United Kingdom

JEL Classification: G34, L2, L81, N83

Suggested Citation

Toms, Steve, Turnaround at William Morrison Supermarkets PLC, 2004-2007 (December 11, 2015). Leeds University Business School Working Paper No. 16-05. Available at SSRN: https://ssrn.com/abstract=2702265 or http://dx.doi.org/10.2139/ssrn.2702265

Steve Toms (Contact Author)

University of Leeds - Leeds University Business School (LUBS) ( email )

Leeds LS2 9JT
United Kingdom

University of Leeds - Division of Accounting and Finance ( email )

Leeds LS2 9JT
United Kingdom

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