Sainsbury's poaches Poundland boss O'Byrne to replace CFO

Sainsbury's has appointed Poundland boss Kevin O’Byrne as its new chief financial officer.

O'Byrne, who became chief executive of the discounter after stints as finance director at Kingfisher and Dixons Retail, will join the supermarket group on 9 January.

The FTSE 100-listed grocer's current CFO, John Rogers, was recently shifted over to become chief executive of the new Sainsbury's Argos division.

Group chief executive Mike Coupe expressed the usual delight at the appointment and said: "We are two years into the delivery of our strategy and this is an important time as we integrate the Argos and Habitat businesses into the group.

"Kevin brings a wealth of retail and finance experience and a track record in growing businesses."

For his part, O'Byrne highlighted the "clear strategy" in place at the supermarket and that he was "really excited" about joining at this point in the company's development.