BusinessCompany NewsSainsbury’s appoints young CFO

Sainsbury's appoints young CFO

Sainsbury's has appointed a young but highly experienced FD to replace the imminently departing Roger Matthews.

Darren Shapland, 38 years old and FD of Carpetright, will join Sainsbury’s as CFO on a yet-to-be determined date.

Link: Emap FD joins Sainsbury’s Board

Shapland has spent two years in his current role. He is a previous FD of Superdrug, and has spent 12 years in a variety of senior positions at retail group Arcadia.

Justin King, chief executive, said: ‘I’m delighted that Darren will be joining Sainsbury’s. He has excellent experience in the retail sector and has undertaken a number of hands-on and broad financial roles. He will be a great asset to Sainsbury’s and the company’s management team as we continue to implement the plans outlined last October.’

Shapland commented: ‘I believe the Sainsbury’s brand has great potential, and look forward to being able to play a key role in the company’s future plans.’

Matthews will stay with the company until after the preliminary results in May 2005.

Sainsbury’s share price fell this morning to 297p from 299p.

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