By Mark Kleinman, City Editor
The chief executive of Wm Morrison, the UK's fourth-largest supermarket chain, was said to be on the brink of resigning on Monday amid expectations that it would be the sector's worst performer during the Christmas sales period.
Sky News understands that directors of Morrisons were discussing Dalton Philips' future with an announcement possible as soon as Tuesday, when the company is due to provide an update on its trading performance.
A Morrisons spokesman said it did not comment on management changes.
Sources said it remained possible that boardroom discussions would result in Mr Philips remaining in his post for the immediate future and that directors could express renewed confidence in his ability to improve the company's fortunes.
Sky News reported last week that Andrew Higginson, who was appointed as Morrisons' chairman-designate last year, was likely to take over from Sir Ian Gibson at the helm of the company earlier than had been expected.
Mr Philips, a former executive at Loblaw, Canada's biggest food retailer, became Morrisons' boss in March 2010, and also sits on the board of the Department for Business, Innovation and Skills.
If his departure is announced in the near-term, it would bring the curtain down on a near-five-year period during which Morrisons has struggled to modernise its business in the face of tough competition from supermarket discounters and established rivals.
Last autumn, Morrisons announced thousands of job cuts and the introduction of a new loyalty scheme in a bid to stem the decline in sales.
A major profit warning last March sparked speculation that Mr Philips was likely to step down in the medium term.
Analysts have forecast that the chain will announce a like-for-like sales fall over Christmas of between 3% and 4%, worse than either of its listed peers, Tesco and J Sainsbury.
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