// Sainsbury’s former boss dies aged 94
// Lord John Sainsbury of Preston Candover retired as chairman and CEO in 1992
Sainsbury’s former chairman Lord John Sainsbury of Preston Candover, has died at the age of 94.
Lord Sainsbury also sat in the House of Lords as a member of the Conservative party.
He initially began working in his family’s business in 1950, taking on a role in the grocery department before becoming a director in 1958.
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In 1967, he became deputy chairman, a role which he took over from his father.
In 1969, he was appointed chairman and chief executive, the roles which he held until his retirement in 1992.
“Under his stewardship we modernised our stores, developed our food ranges and floated Sainsbury’s on the London Stock Exchange in what was, at the time, the UK’s largest-ever initial public offering,” Sainsbury’s chair Martin Scicluna said.
Sainsbury’s chief executive Simon Roberts said: “Lord Sainsbury was a shopkeeper to his core and one of the great retailers of his time.
“He was ambitious for the company and led Sainsbury’s through an unprecedented period of growth; he was a truly inspirational man.
“While he will be missed by many, his huge contribution to Sainsbury’s and the values he cared about and believed in so much will remain alive at the heart of our business.”
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