Martin Scicluna, current Chair of Sainsbury’s, has announced that Lord John Sainsbury of Preston Candover has passed away. The former chairman of the supermarket chain was 94.
In announcing the passing, Scicluna said: “We are all deeply saddened to learn of the death of our Life President, Lord Sainsbury of Preston Candover. He was 94 and had lived a remarkable life.”
Continuing he said: “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 followed his family into the business starting out with the business in 1950, initially taking on a role in the grocery department before becoming a director in 1958,. In 1967 he took over the role of deputy chairman from his father.
In 1969, he was appointed chair and chief executive which he held until his retirement in 1992.
He also sat in the House of Lords as a member of the Conservative Party.
Speaking about the life Lord Sainsbury, Scicluna said: “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: “Lord Sainsbury was a shopkeeper to his core,” adding “ he was 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.”
Sainsbury’s is part of everyday life in the UK thanks in part to Lord Sainsbury, and the news that he has passed away will be met with sadness throughout the industry and across the country.
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