Sainsbury’s Boss To Step Down

Sainsbury’s has announced that Justin King has decided to step down in July 2014 after 10 years as CEO, and that Mike Coupe, currently the group commercial director, will succeed him as CEO. 

Speaking about his decision, Justin King, said: “This was not an easy choice for me to make, and in truth it will never feel like the right time to leave a company like Sainsbury’s.  It has been a privilege to have led the company for the past 10 years and I am incredibly proud of our achievements in that time.

“It is the 157,000 colleagues that make Sainsbury’s so special and I would like to thank them for their amazing efforts over the last decade in making Sainsbury’s great again. I am confident that under Mike’s leadership the business will go from strength to strength.”

David Tyler, chairman said: “Justin is a truly exceptional leader, who has reshaped Sainsbury’s during his 10 years as CEO, as well as playing a leading role in the sector and wider business world.”We are delighted to appoint a CEO of Mike’s unique talent and experience as Justin’s successor to lead the next chapter of Sainsbury’s history.  No one knows Sainsbury’s – or the industry – better than Mike.  He has worked hand-in-hand with Justin over the past decade and has a proven track record of success making him the natural choice to take the company forward.”