As it prepares to finalise its Home Retail Group takeover, Sainsbury's has announced that it will promote its current Chief Financial Officer John Rogers to Chief Executive of Home Retail Group upon the completion of the acquisition.
Rogers will replace Home Retail's current CEO John Walden who confirmed that he will depart from the company on the same date.
As CEO of the Argos owner, Rogers will be based in Home Retail Group's headquarters in Milton Keynes and will report into Sainsbury's CEO Mike Coupe. He will be responsible for combining Argos with Sainsbury's' non-food business and the continued digital transformation and performance of Home Retail. Rogers will remain on the Sainsbury's Group Operating Board and Sainsbury's plc Board.
Rogers has held his current position, CFO since 2010 and is responsible for finance, group strategy, Sainsbury's online, business development and Sainsbury's bank.
Sainsbury's Group Finance Director, Ed Barker will succeed Rogers as Sainsbury's CFO on an interim basis. Barker began his career at Sainsbury's in 2008 from Burberry and was appointed to his current role in March 2012.
“I am delighted to appoint John as Chief Executive of HRG upon completion of our proposed acquisition of the business. John is a highly talented member of the team and has played a major role in delivering our performance and strategy at Sainsbury's. John’s expertise goes beyond his finance role; his leadership expertise in strategy, digital, online and property make John the ideal candidate to lead HRG and ensure we deliver our ambition to be the leading multi-channel, multi-product retailer of choice for customers" said Mike Coupe, Chief Executive of Sainsbury’s .
“Ed has extensive senior finance experience within retail, including eight years at Sainsbury’s. His in-depth knowledge of the business as well as his proven leadership of the Group Finance function will serve our business well during this interim period. We will now undertake a thorough search process for John’s permanent replacement.”
“The combination of Sainsbury’s and Argos is an exciting one for customers, colleagues and shareholders. I am delighted to have the opportunity to lead and work with the talented teams at HRG and to develop the business further as one of the UK’s leading retailers” added Rogers.
Completion of the acquisition is expected to take place in the third quarter after the Competition Markets Authority concludes its inquiry.