// Sainsbury’s announces plans to reshuffle its boardroom
// Departures and replacements could reportedly be announced as early as this week
Sainsbury’s chairman Martin Scicluna, who joined the Big 4 grocer earlier this year, has revealed plans to shake up the boardroom after the failed Asda merger.
The chief executive of Google’s operations in Europe, Matt Brittin, and former Marks & Spencer executive Jean Tomlin are due to step down from the Sainsbury’s board next year, Sky News reported.
Departures and replacements could reportedly be announced as early as this week.
- Sainsbury’s to overhaul store estate as it warns on half-year profits
- Sainsbury’s Argos CEO John Rogers quits
MWM Consulting has reportedly been appointed to identify two new board members.
Brittin has served as a director for almost nine years, while Tomlin has been a board member for just over seven years.
Sainsbury’s shares have fallen by almost a third during the last year, after the CMA’s decision to block the Asda merger affected the credibility of chief executive Mike Coupe.
Last month, Sainsbury’s revealed plans to cut costs by £500 million, with preparations to close dozens of Argos stores in a bid to convince investors that it has a future on the UK’s high streets.
Coupe also said Sainsbury’s would reduce pension contributions by £50 million each year.
Meanwhile, Sainsbury’s rival and Big 4 leader Tesco revealed earlier this month that its group chief executive Dave Lewis will be stepping down in the new year, to be replaced by Ken Murphy, a senior executive at Boots’ US parent company Walgreens.