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Sainsbury’s CFO to run Argos owner after acquisition

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SAINSBURY’S chief financial officer John Rogers is to lead Argos owners Home Retail Group once the acquisition has been completed, the retailer has said.

Rogers will replace HRG’s current chief executive John Walden, who will step down. Completion of the £1.4bn takeover, which is being scrutinised by the UK competition watchdog, is expected to take place in the third quarter of this year.

As chief executive of HRG, Rogers will have responsibility for combining Sainsbury’s non-food business with Argos, and for the digital transformation and performance of HRG. He will be based at HRG’s headquarters in Milton Keynes.

Rogers has CFO of Sainsbury’s since 2010 and currently has responsibility for finance, group strategy, Sainsbury’s online, business development, procurement, property and Sainsbury’s Bank.

In June last year, Sainsbury’s expanded the role of Rogers to include the added responsibilities of business development and group strategy

Ed Barker, Sainsbury’s group finance director, will be appointed CFO on an interim basis. He joined Sainsbury’s in 2008 from Burberry and was appointed FD in March 2012.

Mike Coupe, chief executive of Sainsbury’s, said: “I am delighted to appoint John as chief Eexecutive of HRG upon completion of our proposed acquisition of the business. John is a highly talented member of the team and has played a major role in delivering our performance and strategy at Sainsbury’s. John’s expertise goes beyond his finance role; his leadership expertise in strategy, digital, online and property make John the ideal candidate to lead HRG and ensure we deliver our ambition to be the leading multi-channel, multi-product retailer of choice for customers.”

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