After six years as CEO for Sainsbury’s, Mike Coupe has announced that he is to retire later this year. Coupe will continue in his role as Chief Executive Officer until the end of May 2020.
Chairman Martin Scicluna and the Nomination Committee led a thorough search process, assisted by external headhunters, which included both internal and external candidates. Sainsbury’s will appoint Retail and Operations Director Simon Roberts as his successor and will start as CEO in June.
Martin Scicluna, Chairman, 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 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. I know that Mike will continue to be dedicated and passionate about the business throughout this time.”
Mike 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. Martin and I both believe the business is well set up, with a strong management team and a clear plan for the future. I am delighted that Simon will be the next Chief Executive and am confident that he is the right choice for our customers, our colleagues and our investors. I will do everything I can to set Simon up for success and will remain committed to Sainsbury’s well beyond my departure.”