LONDON (P3PWriter) – Sainsbury’s (SBRY.L), the British grocery store group that’s merging with rival Asda, has lined up Martin Scicluna because the successor to chairman David Tyler, Sky Information reported on Tuesday.
His appointment might be introduced as early as Wednesday, when the retailer will maintain its annual basic assembly, Sky mentioned, citing folks near the corporate.
Scicluna already chairs insurance coverage group RSA (RSA.L) and property firm Nice Portland Estates (GPOR.L).
Sainsbury’s, Britain’s second greatest grocery store, introduced a 7.three billion pound ($9.68 billion) deal to purchase Walmart-owned (WMT.N) Asda in April, a tie-up which might put it forward of market chief Tesco (TSCO.L) in grocery gross sales.
The deal is predicted to face scrutiny from regulators, and Sainsbury’s has mentioned it doesn’t anticipate it to be concluded till the second half of 2019.
Sky Information mentioned it was not clear when Scicluna would take up his new function on the grocery store group.
Sainsbury’s was not instantly obtainable to remark.
Reporting by Paul Sandle. Modifying by Jane Merriman