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J Sainsbury plc, trading as Sainsbury's, [a] is a British supermarket and the second-largest chain of supermarkets in the United Kingdom.. Founded in 1869 by John James Sainsbury with a shop in Drury Lane, London, the company was the largest UK retailer of groceries for most of the 20th century.
King joined Sainsbury's on 29 March 2004, [7] and was seen as the company's last chance to win back market share from its rivals and remain independent – the previous CEO, Sir Peter Davis, failed to halt the supermarket's slide in market position despite a £3 billion investment in infrastructure. He was offered £675,000 a year salary.
Sainsbury trained as a chartered accountant after leaving university. He joined the finance department of the family company, then known as J. Sainsbury, in 1956 and became a director in 1959, [1] responsible for finance. When his brother John became chairman of Sainsbury's in 1969, Simon was given the deputy chairmanship.
Alan Sainsbury was instrumental in bringing the self-service supermarket to Britain and shaping many of the conditions by which we shop for food today. On a trip to America he saw the experience of self-service supermarkets, and John James Sainsbury's show-piece Croydon branch of Sainsbury's was converted to self-service in 1950.
The equity interest in Sainsbury's held by the family as of May 2011 is 15%. The family sold down their stake from 35% in 2005. The largest family shareholders are Lord Sainsbury of Turville with 4.99% and Lord Sainsbury of Preston Candover, who controls just under 3% of the company, and benefits from 1.6% of the equity included in the above.
In his annual letter to CEOs this year, BlackRock CEO Larry Fink urged other chief executives to harness the "power of capitalism" to influence society and serve as a catalyst for positive change.
In 2017, he dissolved the Al-Nusra Front to form HTS, which would maintain power in Idlib before it led the sweeping rebel takeover of Syria earlier this month, forcing out Assad and his regime.
Jacksons Stores had 114 shops in the Yorkshire area and the North Midlands, and just before the Sainsbury's acquisition, was voted the UK's best independent convenience shop chain. The acquisition doubled Sainsbury's market share in the convenience shop sector to 2%. The shops were initially refurbished to trade as ‘Sainsbury’s at Jacksons ...