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Last Updated: Monday, 14 March, 2005, 09:07 GMT
New finance chief at Sainsbury's
Sainsbury's shoppers (Sainsbury's)
Sainsbury's has been trying to improve business in recent months
UK supermarket group Sainsbury's has named Darren Shapland of Carpetright as its new finance director.

The appointment ends uncertainty surrounding its management team since current finance chief Roger Matthews announced plans to quit in October.

Mr Shapland, 38, became Carpetright's finance chief in 2002, after previously working at chemist chain Superdrug and fashion group Arcadia.

Mr Shapland will be paid a salary of �400,000 a year plus bonuses.

'Excellent experience'

"I'm delighted that Darren will be joining Sainsbury's," chief executive Justin King said.

"He has excellent experience in the retail sector and has undertaken a number of hands-on and broad financial roles."

It is not yet clear when Mr Shapland will take up his new post, but Sainsbury's said that Mr Matthews would be staying with the company until after its preliminary results are announced in May.

Carpetright has already begun the process of finding a replacement for Mr Shapland.

However, it said that he would be staying with the company until after its full year results are announced in June.

Sainsbury's has suffered falling profits in recent months as it struggles to turn its business around.

In November, the UK's third biggest supermarket chain announced what was thought to be the first loss in its 135-year history.

It posted a pre-tax, post-exceptional loss of �39m for the six months to October - down from a profit of �323m a year earlier.




SEE ALSO:
Sainsbury's food decline slowing
13 Jan 05 |  Business
Sainsbury seeks to soothe on pay
23 Dec 04 |  Business
Sainsbury's replaces IT director
08 Dec 04 |  Business
Sainsbury's makes first ever loss
17 Nov 04 |  Business
Bid talk buoys ailing Sainsbury's
01 Nov 04 |  Business


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