Ex-Sainsbury’s CEO Justin King has taken on his first major role since leaving the big four grocer last July.
King, who was at Sainsbury’s for 10 years, will join UK private equity firm Terra Firma Capital Partners as vice-chairman, reports claim. According to Sky News, he will likely take on responsibility for the company’s portfolio, which includes Odeon UCI Cinemas, Wyevale Garden Centres and Four Seasons Health Care.
In the decade that King reigned over Sainsbury’s he turned the retailer around, improving sales by 67%, operating profit by 59% and leaving behind a legacy.
Last November King told The Telegraph that he didn’t have a list of jobs he wanted to take on.
“I am not that kind of person,” he said in an interview. “I will know it [my next job] when I see it. It is all about feeding my sense of myself and what I believe I can do well. Part of what feeds my ego is change and feeling I can make a difference.”
One of retail’s most respected businessmen, King remains loyal to the supermarket giant since his decision to hand it over to Mike Coupe. It is understood that some of his previous employers, such as Asda and Marks & Spencer, were circling him for senior positions but couldn’t convince him to take on a role that would see him rivalling Sainsbury’s.