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Virgin Media O2 MD of business and wholesale Jo Bertram will join Sainsbury’s board as a non-exec director amid the departure of senior independent director Dame Susan Rice.
Prior to her current role Bertram held senior director and strategy roles at O2 and was Northern Europe chief of Uber between 2013 and 2017 and previously worked at McKinsey and Accenture
Meanwhile, Dame Susan Rice has notified the board that she will step down at Sainsbury’s AGM on 7 July after nine years’ service.
Sainsbury’s has therefore appointed Brian Cassin, who has been on the Sainsbury board since April 2016, to succeed her as senior independent director.
With effect from 7 July 2022, Jo Harlow will become chair of the remuneration committee and Keith Weed will be appointed chair of the CR&S committee.
Commenting on the appointment of Jo Bertram, Martin Scicluna, Chairman of Sainsbury’s, said: “She is a highly talented strategic business leader whose broad experience in technology-led sectors will bring fresh perspective to the Board. She has worked in growing, hi-tech sectors and I am confident this will benefit our customers as we explore new ways to use digital solutions to make shopping easy and convenient.
“She has significant experience leading transformation and change and this will be highly relevant to Sainsbury’s as we continue to adapt at pace to put food back at the heart of what we do.”
Bertram added: “Working in fast-paced, agile environments is something I enjoy so I am very pleased to be joining Sainsbury’s at such an exciting time. The Sainsbury’s brand is one I have always admired, and I look forward to bringing my experience to the business and working together with the Board to help drive forward the company’s digital and transformation agenda.”
Commenting on Dame Susan Rice stepping down, Scicluna added: “I would like to thank Susan for her commitment and dedication to Sainsbury’s. Throughout her time with us she has been steadfast in doing the right thing for our customers and colleagues.
“As Chair of the Remuneration Committee Susan has played a vital role in ensuring our approach to pay reflects our culture and values at all levels of the organisation. She has been a great support to me and I wish her all the very best in her future endeavours.”
Morning update
On the markets this morning, the FTSE 100 is back down 0.2% to 7,562.8pts on the final day of trading before the long weekend.
Early fallers include McColl’s, down 4% to 3.2p, Just Eat Takeaway.com, down 2.9% to 2,320p and Nichols, down 2.2% to 1,330p.
Risers include WH Smith, up 2.3% to 1,486p, Parsley Box, up 1.9% to 20.9p and SSP Group, up 1.5% to 231.7p.
Yesterday in the City
The FTSE 100 closed yesterday edging up 0.5% to 7,580.8pts.
Tesco closed the day down 2% to 265.5p, having fallen as low as 251.6p in early trading, after posting strong annual results but warning that 2022 earnings would be hit by inflation and the current economic environment.
Fellow grocery retailers Ocado, Sainsbury’s and Marks & Spencer were caught up in the sector sell-off, falling by 2.6% to 1,153.5p, 2.5% to 238.6p and 2.1% to 150.1p respectively.
Other fallers yesterday included McBride, down 6.1% to 33.8p, Just Eat Takeaway.com, down 4.5% to 2,389.5p, Pets at Home, down 3.6% to 316.6p, THG, down 3.5% to 91.1p and Greggs, down 1.9% to 2,330p.
The day’s risers included Nichols, up 4.2% to 1,360p, PZ Cussons, up 3.7% to 208p, Coca-Cola HBC, up 2.4% to 1,599.5p, Devro, up 1.4% to 213p, Greencore, up 1.3% to 121.9p, DS Smith, up 1.3% to 317.1p and WH Smith, up 1% to 1,452p.
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