J Sainsbury Plc said Chief Financial Officer John Rogers will replace Home Retail Group Plc Chief Executive Officer John Walden, who will step down pending completion of the acquisition.
The purchase should be concluded in the third quarter, Sainsbury said in a statement Friday. The U.K. grocer is paying 1.4 billion pounds ($2 billion) for the owner of the Argos chain to bolster its online distribution and convenience offering. Ed Barker, a group finance director, will take over Rogers’s role on an interim basis, Sainsbury said.
Rogers has been the retailer’s finance chief since 2010 and also oversees its online operations and its banking arm.
News by Bloomberg, edited by ESM. To subscribe to ESM: The European Supermarket Magazine, click here.
