Former Asda supremo touted as potential new boss
Speculation has resurfaced that former Asda chairman and chief executive Sir Archie Norman is being wooed for the top job at Morrisons.

Norman is believed to be more interested in heading up a private equity investment rather than running a public company, but persistent stories that he could be parachuted in to the troubled Morrisons refuse to go away.

Today's reports suggest that the ex-Tory MP could be lured by a substantial payment package by deputy chairman David Jones, who won his bid to place three non-executive directors on the board earlier this week.

The appointment of Norman who, along with Allan Leighton, turned Asda into a supermarket powerhouse during the 1990s, would undoubtedly delight investors and an emboldened Jones has a stronger hand after this week's boardroom victory.

However, Norman is unlikely to consider any deal unless it has the backing of Sir Ken Morrison.