King to step down from Sainsbury’s to seek new pastures

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JUSTIN King will step down as chief executive of Sainsbury’s in July after a decade at the helm, with the company opting for continuity by choosing commercial director Mike Coupe as his successor.

Mr Coupe, 53, had been favourite to succeed the highly regarded King to lead a company battling with Wal-Mart Stores’ Asda to be Britain’s No. 2 player behind Tesco.

Mr King overhauled the 145-year-old retailer.

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