Sainsbury's has named Justin King, the head of M&S food and business, as its new chief executive.

King will take over the role from March 29 2004, when he will replace Sir Peter Davis who will move to the chairman's office for a one-year transitional period.

Forty-one year old King began his career at Mars and then worked at PepsiCo and also spent seven years in Asda's non-food operations. Most recently, he has overseen the development of the Simply Food convenience store concept that is being rolled out by M&S.

The appointment will be viewed as a coup for Sainsbury's, who recently lost its position as the UK's number two supermarket to Asda. Though it is thought the arrival of King will leave a big question mark over the future of Stuart Mitchell, Sir Peter's deputy.

King will be responsible for concentrating on rebuilding Sainsbury's sales and winning back lost customers.

Sir Peter said this morning that the arrangement with M&S had been amicable and that M&S had been extremely accomodating in releasing King to suit Sainsbury's schedule.

Sir George Bull, Sainsbury's non-executive chairman said: "King's talent and food-retailing experience give him a very sound base from which to drive this business forward."

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