Sainsbury’s chief executive Mike Coup has quit after six year at the helm, he will stay until the end of May.
After a 35-year career at the supermarket giant Coup said he was leaving after “the most challenging and competitive” of his career.
Coup 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.”
Simon Roberts will replace Coup and start his new role in June.
Roberts said, “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.”
Chairman Martin Scicluna, who led the hunt for Coupe’s replacement said, “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.”