Lord John Sainsbury, life president and former boss of the Sainsbury’s grocery store chain, dies at 94
Lord John Sainsbury, the life president and former boss of the Sainsbury’s grocery store chain, has died at the age of 94.
The great-grandson of company founder John James Sainsbury, he began working at the agency in 1950 in its grocery division and rose by means of the ranks to develop into deputy chairman in 1967, a task he took over from his father Alan Sainsbury.
He ultimately grew to become chairman and chief government in 1969, taking up from his uncle Sir Robert Sainsbury. He held the function for 28 years.
Forward pondering: Lord John Sainsbury was the great-grandson of company founder John James Sainsbury
Under his stewardship, Sainsbury’s floated on the London Stock Exchange in 1973 in what was at the time the market’s largest ever itemizing.
The debut was dubbed the ‘sale of the century’ by the press, though the household initially retained a controlling stake in the group.
He additionally led the company by means of a interval of modernisation as the British grocery panorama shifted from counter service retailers to trendy supermarkets, whereas additionally increasing the quantity of Sainsbury’s shops throughout the UK.
He was credited for getting prime websites throughout the South East of England, serving to to make the Sainsburys property property one of the most dear amongst the grocery store teams.
Despite retiring in 1992, Sainsbury was made life president of the retailer and continued to take excursions of shops and attend company conferences till his demise.
‘During his 40-year career with the company, Lord Sainsbury led the business by means of a interval of nice change and had a serious impression on retail in the UK in the twentieth century’, mentioned Sainsbury’s chairman Martin Scicluna.
‘He might be vastly missed by the Board and all his associates and colleagues at Sainsbury’s.’