Sainsbury’s chief executive Mike Coupe is to step down after six years in the job.
The supermarket chain’s boss will retire at the end of May to be replaced by the group’s retail and operations director Simon Roberts. It said Coupe, who has overseen the takeover and integration of Argos and the Nectar loyalty scheme, and drove the doomed attempt to merge with Asda, would be available to support Roberts as a director until July.
Sainsbury’s said chairman Martin Scicluna had led a search of internal and external candidatesbefore settling for Roberts.
Scicluna said: “Mike is an exceptional chief executive. His knowledge and understanding of the retail sector and customer behaviour is second to none. 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 15 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. I know that Mike will continue to be dedicated and passionate about the business throughout this time.
“I am delighted to be able to confirm Simon Roberts as Mike’s successor. Simon has been extremely effective during his three years at Sainsbury’s, leading our store teams through great change in that time. Simon is a dedicated, determined and enthusiastic champion of the customer and of our colleagues and has overseen sustained improvements in our competitiveness during his time so far. I would like to congratulate Simon on his appointment; I and the Board are looking forward to working closely with him over the coming years.”
Coupe said: “I feel very privileged to have spent almost six years running Sainsbury’s, in a period that has been the most challenging and competitive of my 35 year career in retail. Sainsbury’s is a very different business today to the one I took over in 2014. I have focused on setting the business up to deal with the strategic challenges of our industry.
“I am proud that almost 20% of our total sales now come from our online channels and that we are becoming one multi brand, multi channel business, able to continue to evolve and adapt with customers’ ever changing needs. Adding Argos and Nectar to the business improves our ability to make shopping increasingly convenient for customers and to reward them for their loyalty. We have also been focused on investing in value so that customers feel confident they are getting quality food at great prices when they shop with us.
“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.”
Roberts said: “Sainsbury’s is a tremendous business, with over 27 million customers a week and market-leading brands across food, general merchandise, clothing and financial services. Sainsbury’s is led by a highly experienced and committed management team and I am really excited about working together with our 178,000 colleagues to become one multi brand, multi channel business. As we come together, I am feeling hugely energised by what we can do for our customers and our colleagues. I firmly believe in our ability to create value for our shareholders as we continue to evolve and adapt this great business for the future.”
