Shortlist for Sainsbury's

Jun 22 2009 by Andrew Mernin, The Journal

SUPERMARKET giant Sainsbury's has reportedly shortlisted two City heavyweights to replace their outgoing chairman Sir Philip Hampton.

The group is understood to be choosing between Burberry chairman John Peace and deputy chairman of Thomson Reuters Niall FitzGerald for the £396,000 a year post.

The search for a new chairman is being carried out by non-executive director John McAdam, and although the group has not put a date on when it hopes to announce a successor, it is thought to want to have a new chairman lined up in time for its annual general meeting on July 15.

The vacancy has been created following Sir Philip’s decision to step down from the post after being made chairman of part-nationalised Royal Bank of Scotland.

He is understood to have thought the demands of his new role would make it difficult for him to also fulfil his duties to the supermarket group.

Both of the rumoured prospective candidates have strong CVs.

A Sainsbury’s spokeswoman declined to comment on the reported shortlist.