Thursday , December 13 2018

Sainsbury names new chief before Asda deal

Bloomberg

UK grocer J Sainsbury Plc named Martin Scicluna as its chairman, tapping a former senior executive at accounting firm Deloitte as it prepares to add Walmart Inc.’s Asda unit in a $9.7 billion deal.
Scicluna, who is also chairman of RSA Insurance Plc, will replace David Tyler in March or soon after, following a five-month handover period, Sainsbury said. “Martin brings a breadth of experience and leadership and we look forward to welcoming him to the Sainsbury’s board at this pivotal time for the business,” Susan Rice, Sainsbury’s senior independent director, said.
Scicluna lacks direct experience of the retail industry but has commercial-property expertise through his nine-year stint as chairman of Great Portland Estates Plc.
He gained exposure to payment technologies from his board membership at Worldpay Group. Scicluna’s clients at Deloitte included electronics retailer Dixons and WH Smith.

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