Sainsbury’s picks next chairman


Ahead of Sainsbury’s annual shareholders’ meeting today, the supermarket group has named Martin Scicluna as it next chairman, giving him the job of steering through its £7.3bn takeover of rival Asda.

Scicluna, who currently holds the same role at RSA Insurance and property firm Great Portland Estates, will join Sainsbury’s board as chairman-designate and non-executive director on Nov. 1 and succeed David Tyler as non-executive chairman in March 2019 or soon after.

In April, Sainsbury’s agreed a combination with Walmart-owned Asda, which will overtake Tesco as Britain’s biggest supermarket chain.

The deal is being looked at by Britain’s regulator, the Competition and Markets Authority.