UK's Sainsbury's announces new operating board structure

Starting February, Graham Biggart, currently the chief transformation officer, will assume an expanded role. He will oversee general merchandise and clothing for both Sainsbury’s and Argos, in addition to his existing responsibilities. This change positions him as the chief transformation and general merchandise commercial officer. Concurrently, Matt Leeser, previously business unit director for seasonal, toys, and electricals, will step up as the general merchandise commercial director, reporting to Biggart, the company said in a media release.

These changes follow Paula Nickolds' decision to leave her role as general merchandise commercial director. Nickolds, who played a significant role in enhancing the brands that deliver strategy, will join The White Company as CEO by the end of March. During her tenure at Sainsbury's, she strengthened the competitive positions of Argos, Habitat, and Tu.

Rhian Bartlett, previously the food commercial director on the operating board, will be promoted to chief food commercial officer. This change reflects the ongoing emphasis on the company's Food First strategy.

In a related development, Sainsbury’s has completed a strategic review of its financial services division. Aligning with a focus on retail, the company is exploring options to transition financial services offerings to dedicated providers, following a distributed model. This strategy mirrors the successful approach used for insurance products and will involve a gradual withdrawal from core banking operations. However, there will be no immediate changes to customer services.

Jim Brown, the chief executive officer of Sainsbury’s Bank, has announced his retirement. Having joined in 2019, Brown's leadership contributed to the Bank's first dividend in 2022, aligning financial services with loyal customers and streamlining operations.

Robert Mulhall will succeed Brown as the CEO of Sainsbury’s Bank at the end of March, subject to regulatory approval. Mulhall, an experienced retail banking leader, previously held executive roles at Allied Irish Bank and led Vision Consulting's global financial services consulting business. His appointment will facilitate the planned withdrawal from core banking, with Mulhall reporting to the Bank Board and connecting to the Sainsbury’s operating board through Bláthnaid Bergin, the chief financial officer.

Fibre2Fashion News Desk (RM)