- Push-out Score determined
- After about six years in the position
- Praise and thanks for Coupe
- Simon Roberts taking over
- Coupe made a lengthy statement and said 268 words
(exechange) — London, United Kingdom, January 22, 2020 — Mike Coupe, chief executive of Sainsbury’s, leaves his position. As announced by J Sainsbury Plc in a news release on Wednesday, January 22, 2020, Michael Andrew (Mike) Coupe leaves his post as chief executive officer at the third largest chain of supermarkets in the United Kingdom after about six years in the role, effective May 31, 2020.
The announcement of Mike Coupe’s move comes 10 months after Martin Scicluna took over as Chairman of J Sainsbury plc.
Coupe leaves the company effective July 2, 2020.
Mike Coupe’s duties as CEO will be taken over by Simon Roberts, currently Retail and Operations Director of J Sainsbury Plc.
“There is never a good time to move on”
Mike Coupe’s departure from the CEO post is explained as follows. Mike Coupe said: “This has been a very difficult decision for me personally. There is never a good time to move on, but as we and the industry continue to evolve, I believe now is the right time for me to hand over to my successor.”
Precise information regarding Mike Coupe’s future plans was not immediately available.
Sainsbury’s said: “After almost six years as Chief Executive Officer (CEO) and fifteen years working for J Sainsbury plc (Sainsbury’s), Mike Coupe has confirmed his intention to retire later this year. Mike will continue in his role as Chief Executive Officer until the end of May 2020.”
Share price decline
The announcement follows a decline in J Sainsbury Plc’s share price of 34% since July 2014.
Chaired by Martin Scicluna
Sainsbury’s is chaired by Martin Scicluna.
Martin Scicluna joined the Board as Chairman Designate and Non-Executive Director on November 1, 2018. He was appointed as Chairman of the Board on March 10, 2019, and is also Chairman of the Nomination Committee.
In the position of CEO since 2014
Mike Coupe became CEO of the Company in 2014.
Mike Coupe has served as an Executive Director since August 1, 2007 and as Group Chief Executive Officer since July 9, 2014.
He has also been a member of the Operating Board since October 2004 and is a member of the CR&S Committee.
Mike Coupe has vast retail industry experience in trading, strategy, marketing, digital and online as well as multi-site store experience.
He joined Sainsbury’s from Big Food Group where he was a board director of Big Food Group PLC and Managing Director of Iceland Food Stores.
He previously worked for both Asda and Tesco PLC, where he served in a variety of senior management roles.
Mike Coupe is a Non-Executive Director of Greene King plc.
Push-out Score determined
The Push-out Score™ determined by exechange gauges the pressure surrounding the management change on a scale of 0 to 10.
exechange reached out to Sainsbury’s and offered the company the opportunity to comment on the score.
Read the full story in the exechange report 4.2020 ($).