Sainsbury’s has signed up technology company Logica’s David Tyler to become its next chairman following a protracted process.
The search for the upmarket retailer’s successor to Sir Philip Hampton, who earlier this year said he needed to concentrate on his job as chairman of the ailing Royal Bank of Scotland, has been a lengthy one.
An official announcement is expected within the next two but the retailer’s board and investors have approved the appointment, it is understood, and Tyler will take up the position at the end of the month.
The Logica chairman, who also holds several other non-executive posts, has vast experience in the retail sector and was a finance director at GUS - owner of Argos, Burberry and Experian - for nine years.
He became the favourite to take the job at Sainsbury’s after former GUS ceo John Peace put himself out of contention when he decided to become the chairman of Standard Chartered.
Sainsbury’s is generally considered to be on an upward curve, with recent first quarter sales growth and plans to expand selling space by 15 per cent over the next two years - an increase from Sainsbury’s previous target of 10 per cent by March 2011.
No comments yet