|
|
Article: Sir Peter Davis brought back to take helm at Sainsbury's
- Article from:
- The Independent (London, England)
- Article date:
- January 15, 2000
- Author:
CopyrightCopyright 2000 The Independent - London. Provided by ProQuest LLC. (Hide copyright information)
|
J SAINSBURY, the struggling supermarket chain, yesterday offered
its shareholders a rare beacon of hope in a seemingly endless flow of
bad news by announcing the surprise appointment of the Prudential's
Sir Peter Davis as chief executive.
The move, which was accompanied by a profits warning, was warmly
welcomed by the City, and Sainsbury shares ended the day more than 5
per cent up at 319.5p. Analysts said the appointment made the break-
up of the company more likely.
Sir Peter, who will be taking up his new position in March, said
that running Sainsbury's was going to be a "wonderful challenge".
"I love the company, I have lots of friends there, I love shopping
and food, and in any case ...