Former Asda boss positioned for Sainsbury's role

The Qatari investment fund stalking supermarket Sainsbury’s today said that Asda veteran Tony Campbell would become chairman of the chain if its potential £10.4bn (€15bn) bid succeeds.

Qatari royal family-backed Delta Two announced that Mr Campbell, widely credited with having helped turnaround Asda’s fortunes in the 1990s, had agreed to chair the Sainsbury’s board as it stressed “a commitment to strong corporate governance” should its offer go through.

Mr Campbell, currently senior non-executive director of First Choice Holidays, was formerly deputy chief executive of Asda and also previously acted as chairman of pubs chain Spirit Group.

The fund’s strategic adviser – Three Delta – also revealed its management team, with former Tory cabinet minister David employed as business development director and a non-executive director line-up of corporate heavyweights, chaired by Sir Peter Middleton, ex-chairman of Barclays.

Three Delta’s non-executive advisory board also comprises Nick Land, former chairman of the accountancy firm Ernst & Young, and Sir Christopher Howes, previously chief executive of the Crown Estate.

The group denied reports that Mr Mellor, former heritage minister, was advising the Qataris on the Sainsbury’s deal, claiming that he “had no direct contact with Qatar”.

It had been speculated that Mr Mellor was providing advice on political and presentational aspects of the prospective offer.

Mr Mellor is said to be a friend of Paul Taylor, chief executive of Three Delta, set up last year to advise Delta Two on investments.

Delta Two is controlled by the Qatar Investment Authority, whose chief executive is Sheikh Hamad bin Jassim bin Jaber al Thani, the prime minister of Qatar and a member of the Qatari royal family.