Sainsbury Shuffle Hints At China Venture - Report

22nd Jun 2010 06:34

LONDON (Dow Jones)--J Sainsbury PLC (SBRY.LN) is considering entering the Chinese market after announcing the biggest management shake-up of Justin King's six-year reign as chief executive, U.K. newspaper The Times reports Tuesday. The supermarket appointed a new chief financial officer Monday as part of a boardroom reshuffle, with Darren Shapland, the incumbent finance head, taking on a new executive role in charge of business development. Shapland's remit will include studying Sainsbury's international options and consultants have already been asked to explore the Chinese market, The Times reports, without citing sources. A move into China would mark a radical departure for Sainsbury's and its first overseas foray since it sold Shaw's, its American business, in 2004, the report says. Newspaper Web site: http://www.timesonline.co.uk -London Bureau, Dow Jones Newswires; +44 (0)20 7842 9320 (END) Dow Jones Newswires June 22, 2010 01:34 ET (05:34 GMT)