Former supermarket manager Lord John Sainsbury, store owner ‘to his core’, dies | Business news

Lord John Sainsbury of Preston Candover – the former chairman of the supermarket chain – has died at the age of 94.

The supermarket’s current chairman and CEO announced the baron’s death on Friday night, saying he had lived a “remarkable life”.

Martin Scicluna said: “We are all deeply saddened to hear of the death of our life president Lord Sainsbury of Preston Candover. He was 94 and lived a remarkable life.

“During his 40-year career with the company, Lord Sainsbury led the company through a period of great change and had a major impact on retail in Britain in the 20th century.”

Lord Sainsbury led the supermarket through ‘an unprecedented period of growth’

Lord Sainsbury began working in his family’s business in 1950, first taking on a role in the grocery department before becoming director in 1958, followed by vice-president in 1967 – a role he took over from his father.

In 1969, he was appointed chairman and CEO, which he held until his retirement in 1992.

He also sat in the House of Lords as a member of the Conservative Party.

‘One of the great dealers of his time’

In a statement, Mr Scicluna said: “Under his leadership, we have modernized our stores, developed our food ranges and launched Sainsbury’s on the London Stock Exchange in what was at the time Britain’s largest IPO to date.

“He was knighted by Her Majesty the Queen in 1980 for services to the food retail industry, became a peer in 1989, and in 1992 was named one of only 24 Knights of the Garter.

“In recent years, he has hosted a visit from Her Majesty the Queen to celebrate the 150th anniversary of our company. He will be greatly missed by the board and all his friends and colleagues at Sainsbury’s.

“We send our condolences to Lord Sainsbury’s wife Lady Sainsbury and the rest of the Sainsbury family.”

His values ​​’will remain alive in the heart of our business’

Simon Roberts, CEO of Sainsbury’s, said Lord Sainsbury’s was a store owner “at its core”.

He said: “Lord Sainsbury’s was a shop owner at his core and one of the great retailers of his time. He was ambitious for the business and led Sainsbury’s through an unprecedented period of growth; he was a truly inspiring man.

“While he will be missed by many, his tremendous contribution to Sainsbury’s and the values ​​he loved and believed in so much will remain alive in the heart of our business.”

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