Sainsbury’s chief executive Mike Coupe to retire
Sainsbury’s has announced that its chief executive Mike Coupe is to retire later this year.
Coupe has worked with Sainsbury’s for nearly fifteen years and for almost six years as chief executive. Although he will step down from his role on 31 May, he will remain as a director of the business until its AGM on 2 July.
Sainsbury’s chairman Martin Scicluna said: “Mike has been bold and ambitious on behalf of our shareholders, customers and our colleagues. Investing heavily in convenience, online and our digital capability, selling Sainsbury’s pharmacy business and acquiring Argos and Nectar have all been sound strategic moves. These set us up well as we come together to create one multi brand, multi channel business for our customers.
“Mike has spent more than fifteen years working for Sainsbury’s and he has added enormous value to the business, to our colleagues and to our shareholders over that time. The board and I are very grateful to him for his service and we look forward to continuing to work together until the AGM. “
Coupe will be succeeded by Simon Roberts who is currently working as the company’s retail and operations director. He was appointed to the chief executive role following a search process that included both internal and external candidates.
Prior to joining Saisnbury’s, Roberts was executive vice president of Walgreens Boots Alliance and president of Boots in the UK. His previous positions also include ten years working with Marks & Spencer.
Sainsbury’s has also announced that it is to cut hundreds of management roles following the integration of Argos into its business. The company said bringing together more teams across the commercial, retail, finance, digital, technology and HR functions will lead to a reduction in roles across the business. Sainsbury’s acquired Argos in 2016.
