I was interested to see that among yesterday's senior management changes was the departure of Gordon Mowat.

There has been much focus at all the grocery retailers on trading performance, but the problems are exacerbated when trading is from the wrong size stores in the wrong locations.

It is easy to blame the 'retail' teams for that, but the reality is that Morrisons, along with its competitors has long needed a property function that is at the heart of the decision making process.

In recent years, far too many retailers have been badly affected or even ceased to exist because their property strategy was too inflexible, (think HMV, Clinton Cards).

Mr. Potts is clearly taking action early to change the business and he should not hesitate to replace Mr. Mowat with a real estate professional who can properly capitalise on the Morrison's largely freehold portfolio, which remains a true competitive advantage for the business.