Sainsbury CEO Coupe to step down; Replaced by Simon Roberts

Supermarket chain Sainsbury's said chief executive Mike Coupe would had confirmed his intention to retire in July to be replaced by the company's retail and operations director Simon Roberts.

Coupe, who has been chief executive for six years, will step down from the role at the end of May and leave the board on July 2 at the company's annual shareholder meeting, Sainsbury's said in a statement on Wednesday.