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    SBRY   GB00B019KW72

J SAINSBURY PLC

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Sainsbury's statement: Death of Lord Sainsbury of Preston Candover

01/14/2022 | 04:25pm EDT

14 January 2022

Martin Scicluna, Chairman of Sainsbury's said: "We are all deeply saddened to learn 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 business through a period of great change and had a major impact on retail in the UK in the 20th century. Lord Sainsbury started working in his family's business in 1950, initially taking on a role in the grocery department. He became a director of the company in 1958, followed by Deputy Chairman in 1967, a role which he took over from his father. Finally in 1969, he was appointed Chairman and Chief Executive until his retirement in 1992.

Under his stewardship we modernised our stores, developed our food ranges and floated Sainsbury's on the London Stock Exchange in what was, at the time, the UK's largest-ever initial public offering. He was knighted by Her Majesty the Queen in 1980 for services to the food retailing industry, made a life peer in 1989 and in 1992 was appointed as one of only 24 Knights of the Garter.

"In recent years, he hosted a visit by Her Majesty the Queen to celebrate the 150th anniversary of our business. 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."

Simon Roberts, Chief Executive Officer of Sainsbury's, said: "All of us at Sainsbury's are deeply saddened by the news that Lord Sainsbury has passed away. On behalf of Sainsbury's colleagues past and present, I extend our heartfelt condolences to Lady Sainsbury and the rest of Lord John's family. Lord Sainsbury was a shopkeeper to his core and one of the great retailers of his time. He was ambitious for the company and led Sainsbury's through an unprecedented period of growth; he was a truly inspirational man. While he will be missed by many, his huge contribution to Sainsbury's and the values he cared about and believed in so much will remain alive at the heart of our business.

Disclaimer

J. Sainsbury plc published this content on 14 January 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 14 January 2022 21:23:51 UTC.


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Sales 2022 29 887 M 37 702 M 37 702 M
Net income 2022 538 M 678 M 678 M
Net Debt 2022 6 356 M 8 018 M 8 018 M
P/E ratio 2022 9,80x
Yield 2022 5,27%
Capitalization 5 365 M 6 768 M 6 768 M
EV / Sales 2022 0,39x
EV / Sales 2023 0,39x
Nbr of Employees 117 000
Free-Float 98,7%
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Simon John Roberts Chief Executive Officer & Director
Kevin O'Byrne Chief Financial Officer & Director
Martin A. Scicluna Chairman
Phil Jordan Chief Information Officer
Susan Ilene Rice Senior Independent Director
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