Sainsbury's has announced that its finance chief John Rogers will take on the role of chief executive at Home Retail Group when the supermarket's takeover of the company is completed.
Rogers will replace John Walden in the role – Walden has announced his intention to step down from the helm of the Argos owner when the deal completes. Rogers has been Sainsbury's finance chief since 2010, and currently looks after finance, group strategy, Sainsbury’s online, business development, procurement, property and Sainsbury's Bank.
Sainsbury's put in a £1.3bn bid for Home Retail Group back in February, and in March agreed a final bid of £1.4bn, after seeing off competition from Christo Weise-backed Steinhoff International.
According to the supermarket, as chief executive Rogers will have responsibility for combining Sainsbury's non-food business with Argos, and for "the delivery of the ongoing digital transformation and performance of Home Retail Group".
"John is a highly talented member of the team and has played a major role in delivering our performance and strategy at Sainsbury's," said Sainsbury's boss Mike Coupe.
"John’s expertise goes beyond his finance role; his leadership expertise in strategy, digital, online and property make John the ideal candidate to lead Home Retail Group and ensure we deliver our ambition to be the leading multi-channel, multi-product retailer of choice for customers."
Rogers commented: "The combination of Sainsbury’s and Argos is an exciting one for customers, colleagues and shareholders. I am delighted to have the opportunity to lead and work with the talented teams at HRG and to develop the business further as one of the UK’s leading retailers.”
Earlier this week, Sainsbury's reported a decline in sales during the first quarter of its financial year.