Former Tesco chief executive Terry Leahy is set to become Morrisons next chairman, according to sources reported by The Telegraph.

Leahy held the role of chief executive of Tesco, where he had worked since 1979, from 1997 to 2011, and has sat on the board of B&M Retail since 2012.

The sources said Leahy will be appointed to the role if Morrisons’ £7 billion takeover offer from US private equity firm CD&R goes ahead.

Terry currently acts as a senior adviser to CD&R.

The executive would replace Morrisons’ current chairman Andrew Higginson, who has held the position since 2017.

Leahy’s tenure at B&M was generally considered successful; its revenue rose from £993 million to £2.7 billion under his leadership while the number of its stores rose from 331 to 893.

“We know customers love Morrisons and that the management and staff try to provide a better customer service every day and contribute to the local communities,” said Leahy. “We at CD&R are determined to help do that.”

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