Morrisons has started the search for a replacement for Sir Ken Morrison, the supermarket group’s chairman, when he decides to step down.

Reports suggest that the retailer is preparing to appoint headhunters to find a replacement, with shareholders keen to see Sir Ken step down at Morrisons’ agm next year.

The reports also suggest that institutional investors do not want to see Paul Manduca, who was appointed a non-executive director last month, appointed chairman as they claim he does not have a strong track record of running companies.