Former Morrisons Director Gets GBP3.6m Payout

Thu, 26 Apr 2007
 
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British supermarket chain Morrisons has revealed that its former managing director, Marie Melnyk, left with a compensation package in excess of £3.6 million, as it unveiled its new brand identity. After spending more than 31 years with the company Ms Melnyk, who stated off as a checkout operator, parted ways due to ill health .

According to the grocery retailer’s annual report Ms Melnyk, 48, was paid a salary of £663,000 for the 10 months she worked, along with benefits worth £24,000, and a compensation package worth £2.9 million, bringing her total package to £3.61 million. A spokesman said the payout was a contractual obligation.

Martyn Jones was taken on board as the company’s trading director on March 8, and immediately took over Melnyk’s responsibilities.

Morrisons chief executive, Marc Bolland, was yesterday hoping to put that period of turmoil behind him when the supermarket unveiled its redesigned logo, part of a £450 million plan to reinvent the UK’s fourth largest supermarket group as a more inspiring fresh food retailer.

The logo has been overhauled, with its traditional black letters being replaced with green ones. The black box around the "M" has also been altered from black to dark green. However, the logo has retained the chain’s iconic yellow oval and Morrisons wording underneath.

Mr Bolland said, "It is a very clear sign of our commitment to a fresher Morrisons".

The company is also replacing its 30-year old advertising slogan, "More reasons to shop at Morrisons", with "Fresh for you every day". Rebranding will start in July with new advertising, fresh-food packaging and in-store signage.

In the second half of its financial year, stores will be rebranded in a phased roll-out. In-store fresh food preparation will be made more visible and carrier bags will be feature the redesigned logo .

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