Sainsbury's Coupe Says Exit Not Due To Failure Of Asda Deal

By Dayeeta Das
Share this article
Sainsbury's Coupe Says Exit Not Due To Failure Of Asda Deal

The boss of British supermarket group Sainsbury's, Mike Coupe, said he was not stepping down in May because of his failure to buy rival Asda last year.

Sainsbury's agreed £7.3 billion (€8.6 billion) deal for Walmart owned Asda was blocked by Britain's competition regulator in April.

Asked by BBC radio if he was paying the price for that deal not happening, Coupe said: "No, absolutely my choice."

"If you looked at our AGM (annual general meeting) last year, 99.5% of our shareholders voted for me to carry on doing what I'm doing," he said.

"It's something I promised myself throughout my career that at the age of 60 I will stop and do something different with my life."


Coupe, who is 60 this year, has been at Sainsbury's for 15 years, six as chief executive.

Sainsbury's said last week that Coupe would be succeeded as CEO by Simon Roberts, the current retail and operations director.

Coupe was asked, given last year's ruling by the Competition and Markets Authority (CMA), if it was now impossible for two big players, such as Sainsbury's and Marks & Spencer to merge.

"I think it's difficult at the moment, but ultimately I have a very strong view that the industry will consolidate," he said.


"You see the amount of change that's going on in the world of retail...One way or another there's going to be a significant rationalisation of brands that you've taken for granted for a generation.

"And that will happen...probably in the next five or ten years."

News by Reuters, edited by ESM. Click subscribe to sign up to ESM: European Supermarket Magazine

Get the week's top grocery retail news

The most important stories from European grocery retail direct to your inbox every Thursday

Processing your request...

Thanks! please check your email to confirm your subscription.

By signing up you are agreeing to our terms & conditions and privacy policy. You can unsubscribe at any time.