M&S man to succeed Sainsbury's CEO

Supermarket group Sainsbury’s today announced the boss of Marks and Spencer‘s food department as successor to chief executive Sir Peter Davis.

Justin King’s immediate challenge will be to revive the company’s sales after results today showed minimal growth in the UK for the six months to October 11.

Sainsbury’s blamed the lacklustre performance on the impact of its restructuring programme, although underlying profits did rise 7% to £366m (€521m) following a range of cost-cutting measures.

The appointment of Mr King, who has also been managing director of Asda’s hypermarkets operation, will allow Mr Davis to become Sainsbury’s chairman – a position he is only expected to hold until July 2005.

Mr King’s place as M&S’s executive director of food will be taken by Maurice Helfgott, currently director of the high street chain’s menswear department.

Mr Davis said of today’s appointment: “Justin’s early training with Mars and his food retailing experience with value-oriented Asda and quality-focused Marks & Spencer makes him the ideal candidate for Sainsbury’s.”