Sainsbury’s has announced that Martin Scicluna will be its next non-executive Chairman. He will succeed David Tyler who has held the role for nine years.
Breadth of experience and leadership
Martin Scicluna is chairman of RSA Insurance and spent 26 years of his career at Deloitte, eventually becoming UK chairman. There he worked with numerous FMCG clients including Dixons, WH Smith, Alliance Unichem and Cadbury’s. He is also currently chairman of Great Portland Estates, but will step down from this role on of before its 2019 AGM, as previously announced. Scicluna will assume the role of chairman in March 2019, but join the board of Sainsbury’s as chairman-designate in November and work closely with David Tyler until he steps down at the end of the financial year.
Appointment will reassure investors
Scicluna’s appointment and five month handover period will provide reassurance to Sainsbury’s investors at a critical time for the business as it faces into a number of challenges. Key issues include securing support and regulatory clearance for its proposed merger with Asda and boosting faltering LFL growth in an intensely competitive and rapidly changing grocery market.
Admiration for Sainsbury’s
Commenting on his appointment, Martin Scicluna said “I’m delighted to join Sainsbury’s, a company I have long admired for its clear customer focus and its strong values. Mike Coupe and his management team have positioned the business for a successful future of delivering significant value for shareholders, customers and other stakeholders. I am looking forward to working with Mike and his team and my new Board colleagues.”