Mike Coupe to retire as Sainsbury’s CEO in May
Sainsbury’s chief executive officer Mike Coupe has declared his intent to retire to make way for heir apparent Simon Roberts who will assume the CEO mantle from 1 June.
Mike Coupe to retire as Sainsbury’s CEO in May
Coupe has spent the past six years in the role as the culmination of a 15-year career at the retailer and will remain in the post till May to ease the transition. Coupe will remain a director for one month from 1 June to 2 July before parting ways for good.
During his tenure Coupe is credited with steering the business towards online channels which now account for 20% of total sales, as well as overseeing the additions of Argos and Nectar to the business.
Coupe said: “This has been a very difficult decision for me personally. There is never a good time to move on, but as we and the industry continue to evolve, I believe now is the right time for me to hand over to my successor.”
Sainsbury’s chairman Martin Scicluna added: “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.”
Roberts will be tasked with steering Sainsbury’s towards becoming a multi-brand, multi-channel business upon his ascension following the merger of Sainsbury's and Argos marketing functions.
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J Sainsbury plc, trading as Sainsbury's, is the second largest chain of supermarkets in the United Kingdom, with a 16.9% share of the supermarket sector in the United...
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