Jeremy Townsend Joins as Audit Committee Chair
- Jeremy Townsend appointed as non-exec director at Morrisons
- Townsend to join audit, corporate compliance, nomination, and remuneration committees
- Chair of the audit committee from September 10th
- Succeeds Belinda Richards who steps down for Jupiter Fund Management role
- Townsend previously held positions at Rentokil, Mitchells & Butlers, Sainsbury’s, and Ernst & Young
- Morrisons reports volatile Q1 2020 trading due to pandemic
- Q1 group like-for-like sales up 5.7% excluding fuel, down 3.9% including fuel
Morrisons has appointed Jeremy Townsend as a non-executive director, effective immediately. He will join the audit, corporate compliance, nomination, and remuneration committees and chair the audit committee from September 10th. Townsend is currently CFO of Rentokil and previously held roles at Mitchells & Butlers and Sainsbury’s. Belinda Richards steps down to join Jupiter Fund Management. Morrisons reported volatile Q1 2020 trading due to the pandemic, with a 5.7% increase in group like-for-like sales excluding fuel and a 39.3% decrease in fuel sales.
Factuality Level: 10
Factuality Justification: The article provides accurate information about the appointment of Jeremy Townsend as a non-executive director at Morrisons, his previous roles, and the company’s recent trading performance. It also includes relevant details about Belinda Richards stepping down from the board. The information is presented in an objective manner without any sensationalism or personal opinions.
Noise Level: 2
Noise Justification: The article provides relevant information about the appointment of a new non-executive director at Morrisons and includes details about his background and experience. It also mentions the company’s recent trading performance during the pandemic. However, it lacks in-depth analysis or exploration of long-term trends or consequences of decisions.
Financial Relevance: Yes
Financial Markets Impacted: Morrisons, a British supermarket chain
Financial Rating Justification: The article discusses the appointment of Jeremy Townsend as a non-executive director and chair of the audit committee at Morrisons, a company in the retail industry. It also mentions the impact of the pandemic on their trading performance.
Presence Of Extreme Event: No
Nature Of Extreme Event: No
Impact Rating Of The Extreme Event: Minor
Extreme Rating Justification: No extreme event mentioned in the article.
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