Somerfield to appoint Budgens man
SOMERFIELD is set to appoint John von Spreckelsen as its new executive chairman, it has been claimed.
Mr von Spreckelsen, currently chief executive with rival retailer Budgens, has a history of turning around underperforming retail groups, reports the Financial Times.
Last week Somerfield ousted chief executive David Simons and replaced him with Alan Smith, chief executive of Punch Taverns.
The FT says Somerfield has never really recovered from a merger with Kwik-Save, and a series of profit warnings left Mr Simons vulnerable.
Neither Somerfield nor Budgens would comment on the speculation surrounding Mr von Spreckelsen.
- Somerfield chief ousted, FWi, 30 March, 2000
- Financial Times 03/04/2000 page 28