JUSTIN KING yesterday said he would step down as chief executive of Sainsbury’s in July after a decade at the helm.
The 53-year old is credited with transforming the fortunes of the UK’s third-largest supermarket chain, and the announcement comes just weeks after it said it had seen its “best Christmas ever”.
“This was not an easy decision 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,” King said yesterday.
Current commercial director Mike Coupe will take over as chief executive on 9 July.