UK supermarket group Sainsbury’s has appointed Sir Ian Prosser as its non-executive deputy chairman with effect from 29 March 2004.
On the same date Sir Peter Davis, group chief executive, will become chairman, as previously announced, succeeding Sir George Bull who will retire from the board. Justin King also joins the board as group chief executive on that date.
Prosser in his role as deputy chairman will become the senior independent director and will chair the group’s nomination committee. It is intended that he will succeed Davis as chairman when he retires following the group’s AGM in July 2005.
Prosser will receive a salary of £150,000 per annum in his role as deputy chairman, rising to £350,000 once he takes up his appointment as chairman in July 2005.