Sainsbury’s chief executive Mike Coupe to retire

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Sainsbury’s has announced its chief executive Mike Coupe will retire from the supermarket group in May.

Mr Coupe has led the supermarket for almost six years during which he oversaw the failed merger with rival Asda.

The company said the head of its retail and operations, Simon Roberts, will takeover from Mr Coupe.

“This has been a very difficult decision for me personally,” Mr Coupe said.

“There is never a good time to move on, but as we and the industry continue to evolve, I believe now is the right time for me to hand over to my successor.”