January 22, 2020 / 7:10 AM / a month ago

Sainsbury's CEO Coupe to stand down in May, be replaced by Roberts

LONDON, Jan 22 (Reuters) - Mike Coupe will step down as CEO of Sainsbury’s at the end of May after six years at the helm, with Britain’s second largest supermarket group opting for continuity by choosing retail and operations director Simon Roberts as his successor.

Coupe has faced questions about his future since April when Britain’s competition regulator blocked Sainsbury’s attempt to take over Walmart owned rival Asda for 7.3 billion pounds ($9.5 billion). Coupe was the architect of that deal and Sainsbury’s share price has fallen 22% over the last year.

Roberts, a former managing director of health and beauty retailer Boots, joined Sainsbury’s in 2017.

On Jan. 10 Reuters reported that he was the leading internal candidate to succeed Coupe. ($1 = 0.7658 pounds) (Reporting by James Davey; editing by Kate Holton)

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