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.