Sainsbury Shuffles Management Team, Shapland Takes Strategy Role

21st Jun 2010 12:35

By Steve McGrath Of DOW JONES NEWSWIRES LONDON (Dow Jones)--U.K. supermarket group J Sainsbury PLC (SBRY.LN) Monday shuffled its management team, putting current Chief Financial Officer Darren Shapland in charge of future developments at the company, and promoting John Rogers to the CFO post. Current Trading Director Mike Coupe will become group commercial director and join the board, adding Marketing to his responsibilities, while Helen Buck will take charge of the company's convenience store operations under Shapland. Shapland's role, which sees him take charge of the convenience stores, Sainsbury's Bank, the property portfolio and group strategy suggests a renewed focus on areas outside the company's main supermarket chain. Along with rivals, it has expanded in both convenience stores and financial services in recent years. "Both Darren and Mike have made major contributions to our performance over recent years and their new roles will be vital in delivering the next stage of our growth strategy," Chief Executive Justin King said. "Helen inherits a Convenience business which is in great shape and is one of the exciting areas of growth for the company. She is a highly driven and successful operator and will bring even more energy to the Convenience team and its expansion plans," King added. The changes will come into effect July 19. At 1129 GMT, Sainsbury's shares were flat at 332 pence, underperforming a 1.1% rise in the FTSE 100. -By Steve McGrath, Dow Jones Newswires; 44-20-7842-9284; [email protected] (END) Dow Jones Newswires June 21, 2010 07:35 ET (11:35 GMT)