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Sainsbury(J) PLC (SBRY)

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Wednesday 09 May, 2012

Sainsbury(J) PLC

Directorate Change

RNS Number : 9332C
Sainsbury(J) PLC
09 May 2012
 



9 May 2012

 

J Sainsbury's plc announces Board change

 

J Sainsbury plc announces today that Bob Stack has decided to stand down as a Non-Executive Director from the Company's Board. He will leave the Company following Sainsbury's AGM on 11th July 2012.

 

David Tyler, Chairman, J Sainsbury plc, said "I would like to thank Bob for his outstanding contribution since his appointment in January 2005, both as a valued member of the Board and as Chairman of our Remuneration Committee. During his tenure, the Remuneration Committee has progressively introduced a range of plans which have effectively incentivised management through the recovery and growth phases of the last seven and a half years, which has been very much in shareholders' best interests. Sainsbury's has developed a sound reputation for strong governance of remuneration while he has chaired the Committee."

 

Bob Stack said, "I have thoroughly enjoyed my time on the Sainsbury's Board, and in particular the opportunity to serve as Chairman of the Remuneration Committee for nearly eight years. It has been a pleasure to have been part of one of the UK's most successful retail turnarounds and I leave knowing that the Company is well positioned for further success."

 

Mary Harris, who has been a Non-Executive Director of Sainsbury's since 2007, will succeed Bob as Chairman of the Remuneration Committee. A search is currently under way for a new Non-Executive Director to join the Sainsbury's Board.   

 

-ends-

Enquiries

For more information please contact:

·     Investor Relations - Erica Judge/Adam Wilson Katsibas on 020 7695 7599

·     Media - Alex Cole/Tara Hicks on 020 7695 7295

Notes

·     Mary Harris joined the Board of J Sainsbury plc on 1st August 2007

·     J Sainsbury plc AGM 11th July 2012


This information is provided by RNS
The company news service from the London Stock Exchange
 
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