Sainsbury's names new chairman

Supermarket giant Sainsbury's has named City grandee Martin Scicluna as its next chairman, to replace David Tyler when he steps down in March 2019.
By The Newsroom
Published 11th Jul 2018, 09:53 BST
Updated 16th Jul 2018, 17:03 BST
A Sainsbury's store in LeedsA Sainsbury's store in Leeds
A Sainsbury's store in Leeds

He will be given the job of steering through Briatin’s second largest supermarket group’s £7.3bn takeover of rival Asda.

Mr Scicluna, who currently holds the same role at RSA Insurance and property firm Great Portland Estates, will join Sainsbury’s board as chairman-designate and non-executive director on November 1.

Hide Ad
Hide Ad

He will succeed Mr Tyler as non-executive chairman in March 2019 or soon after.

Mr Tyler has held the role since 2009. In April Sainsbury’s agreed a combination with Walmart owned Asda, the third largest supermarket, which will overtake Tesco as Britain’s biggest supermarket chain.

The deal is being looked at by Britain’s regulator, the Competition and Markets Authority (CMA).

The CMA’s probe is expected to be lengthy and Sainsbury’s does not anticipate the deal being concluded until the second half of 2019.

On appointment, Mr Scicluna’s fee will be £237,500 annually as chairman designate and £475,000 annually as chairman.

His appointment was announced ahead of Sainsbury’s annual shareholders’ meeting.

Related topics:Sainsbury'sASDABritainTesco