The family’s decision to relinquish control over the grocery retailer gives their new chief executive more room to turn the business around

The announcement comes after another disappointing set of results, in which the group reported a massive decline in its trading profit This content is restricted to registered users and subscribers. Get Your Free Account The Mail & Guardian is committed to providing all our readers with the best possible experience. Please register your free account now. Your registration is your first step to becoming an M&G community member. Register Registration enables: – M&G newsletters access – notifications – the best possible experience Already registered? Login here Want to subscribe and get even more benefits? Explore our subscription offers

The old trade winds are blowing again and we must take notice, writes editor-in-chief Ron Derby

The retailer released a grim set of results on Wednesday, which saw its shares plummet more than 14%