19th Aug 2019 06:53
(Alliance News) - J Sainsbury's PLC is not talking to internal candidates to replace Chief Executive Mike Coupe who still has the support of the company's board, Reuters reported on Saturday.
The news came following reports from the Daily Telegraph that the supermarket chain was preparing a succession plans and potential replacements for Coupe.
John Rogers, the boss of Argos Ltd and Paul Mills-Hicks, the Sainsbury's food commercial director, were reportedly among the candidates considered.
In a statement given to Reuters, Sainsbury's said: "Every responsible business has potential succession plans for its CEO. This is nothing new.
"We are not talking to internal candidates about succession planning for Mike and have been clear he has the full support of shareholders and the board."
Earlier this year, Coupe said he would not quit as chief executive following the company's failed merger with Walmart Inc-owned Asda Stores Ltd.
https://www.reuters.com/article/us-sainsburys-ceo/sainsburys-says-not-talking-to-internal-candidates-for-ceo-succession-idUSKCN1V70LM
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