Justin King (businessman)
Encyclopedia
Justin Matthew King, CBE (born 17 May 1961) is a British businessman
, who is the CEO
of J Sainsbury plc, parent company of the supermarket chain Sainsbury's.
King was previously Director of Food at Marks and Spencer and has held senior positions at Asda
. King was involved in the introduction of Häagen-Dazs
ice cream to the UK and has worked for Pepsi-Cola International
and Mars
.
just outside Birmingham, the son of a petrochemical company salesman, he was schooled at Tudor Grange Grammar School
(grammar school which became a comprehensive whilst he attended) in Solihull
. He then attended Solihull Sixth Form College
.
King undertook a degree in Business Administration at the University of Bath
, graduating in 1983. His contemporaries on the course included Capital Radio
& Magic
DJ Neil Fox
, Russell Senior
the guitarist from Pulp
, and Bob Wigley, now chairman of Merrill Lynch
in Europe.
In 2009 he was also awarded an Honorary DBA (Doctor of Business Administration) from the University of Bath.
, the automotive electrical manufacturers, he went to work for Mars
upon graduation becoming production shift manager on Galaxy
chocolate, and where he worked with Richard Baker, who became head of Boots.
King joined PepsiCo
from 1989 being based in the Middle East, then moved to Grand Metropolitan
in 1990, where he helped launch Häagen-Dazs
ice-cream in the UK as managing director. He moved to Asda
in 1994 and worked with Archie Norman
and Allan Leighton
becoming managing director of the hypermarkets division. King moved to Marks & Spencers in 2001, where he managed the M & S food division.
Shortly after joining Sainsbury's, King authorised the removal of the Colleague Christmas Bonus award. The Guardian
reported: "The new chief executive of ailing supermarket chain J Sainsbury ran into his first controversy yesterday as it emerged that he has been awarded free shares worth more than £500,000 in the same week as he has axed the £100 Christmas bonus paid to staff." The removal of the bonus was a contentious issue, given its consistent payment for 25 years and also given that this was the year Sir Peter Davis received disputed bonus payments.
In October 2004 King launched his recovery programme for the company under the banner "Making Sainsbury's Great Again". In January 2008 Sainsbury's announced twelve consecutive quarters of sales growth and achieved its target to grow sales by £2.5 billion,3 months ahead of schedule
On King's first day as Sainsbury's CEO (29 March 2004) the share price of the company closed at 279p on the London Stock Exchange. As of 23 September 2011 and after approximately 7 1/2 years service, the LSE quoted closing share price for J Sainsbury plc was 266p.
In September 2005 in an interview with The Guardian
King discussed the dominance of principal rival Tesco. While steering clear of calls for a Competition Commission
inquiry into the No.1 UK supermarket, King did call for changes in planning laws to prevent Tesco from achieving a 40% market share. As of 2005 Tesco had more potential development projects than that of Sainsbury, Asda
and Morrisons
combined. King also criticised Tesco CEO Terry Leahy
for questioning the accuracy of Taylor Nelson Sofres market data. Leahy has argued that TNS over-estimates the size of his company's market share.
He was appointed Commander of the Order of the British Empire (CBE) in the 2011 Birthday Honours
for services to the retail industry.
, just south of Leamington Spa
, Warwickshire, with his wife Claire (née Simmons) whom he married in May 1990 in Daventry
. A self-admitted petrol-head, King traded his Maserati Quattroporte for a Lexus LS600h L
in March 2008 on environmental grounds.
King is an ambassador for The Scout Association
. In 2007, he received an honorary doctorate from Bournemouth University
.
In July 2011, King and his wife Claire separated and are to divorce after 21 years of marriage.
Businessperson
A businessperson is someone involved in a particular undertaking of activities for the purpose of generating revenue from a combination of human, financial, or physical capital. An entrepreneur is an example of a business person...
, who is the CEO
Chief executive officer
A chief executive officer , managing director , Executive Director for non-profit organizations, or chief executive is the highest-ranking corporate officer or administrator in charge of total management of an organization...
of J Sainsbury plc, parent company of the supermarket chain Sainsbury's.
King was previously Director of Food at Marks and Spencer and has held senior positions at Asda
Asda
Asda Stores Ltd is a British supermarket chain which retails food, clothing, general merchandise, toys and financial services. It also has a mobile telephone network, , Asda Mobile...
. King was involved in the introduction of Häagen-Dazs
Häagen-Dazs
Häagen-Dazs is a brand of ice cream, established by Jewish-Polish immigrants Reuben and Rose Mattus in the Bronx, New York, in 1961. Starting with only three flavors: vanilla, chocolate, and coffee, the company opened its first retail store in Brooklyn, New York, on November 15, 1976...
ice cream to the UK and has worked for Pepsi-Cola International
Pepsi
Pepsi is a carbonated soft drink that is produced and manufactured by PepsiCo...
and Mars
Mars, Incorporated
Mars, Incorporated is a worldwide manufacturer of confectionery, pet food, and other food products with US$30 billion in annual sales in 2010, and is ranked as the 5th largest privately held company in the United States by Forbes. Headquartered in McLean, unincorporated Fairfax County, Virginia,...
.
Early life
Raised in DorridgeDorridge
Dorridge is a village in the West Midlands borough of Solihull, England, with a population of 7800.-Location:Dorridge is to the East of the M40 and the South of the M42 which, along with a small but important green belt area, separates Dorridge and its neighbours of Knowle and Bentley Heath from...
just outside Birmingham, the son of a petrochemical company salesman, he was schooled at Tudor Grange Grammar School
Tudor Grange Grammar School
Tudor Grange School is a co-educational comprehensive school and technology college located in Solihull, West Midlands. It was originally a boys' grammar school for around 650 boys.-Location:...
(grammar school which became a comprehensive whilst he attended) in Solihull
Solihull
Solihull is a town in the West Midlands of England with a population of 94,753. It is a part of the West Midlands conurbation and is located 9 miles southeast of Birmingham city centre...
. He then attended Solihull Sixth Form College
Solihull Sixth Form College
The Sixth Form College, Solihull is a further education college for students aged 16 to 19. It is situated on the outskirts of Solihull, West Midlands and draws students from across Solihull and Birmingham...
.
King undertook a degree in Business Administration at the University of Bath
University of Bath
The University of Bath is a campus university located in Bath, United Kingdom. It received its Royal Charter in 1966....
, graduating in 1983. His contemporaries on the course included Capital Radio
Capital Radio
Capital London is a London based radio station which launched on 16 October 1973 and is owned by Global Radio. On 3 January 2011 it formed part of the nine station Capital radio network.- Pre-launch :...
& Magic
Magic Radio
Magic is a music radio and a TV brand in the United Kingdom, run by the German publishing company Bauer.-Magic Radio in United Kingdom:...
DJ Neil Fox
Neil Fox
Neil Andrew Howe Fox is an English DJ and TV presenter, known for many years as Dr. Fox before he became "Foxy" in the 2000s. He is now known simply as "Neil Fox". He is not to be mistaken for Conservative MP Liam Fox who is also known as Dr. Fox...
, Russell Senior
Russell Senior
Russell Senior is the guitarist and violinist of the band Pulp.Senior grew up in Sheffield. Whilst at University in Bath, he formed the "Dada Society" and appeared as the lead role in a dramatic adaptation of Kafka's The Trial...
the guitarist from Pulp
Pulp (band)
Pulp are an English alternative rock band formed in Sheffield in 1978. Their lineup consists of Jarvis Cocker , Russell Senior , Candida Doyle , Mark Webber , Steve Mackey and Nick Banks ....
, and Bob Wigley, now chairman of Merrill Lynch
Merrill Lynch
Merrill Lynch is the wealth management division of Bank of America. With over 15,000 financial advisors and $2.2 trillion in client assets it is the world's largest brokerage. Formerly known as Merrill Lynch & Co., Inc., prior to 2009 the firm was publicly owned and traded on the New York...
in Europe.
In 2009 he was also awarded an Honorary DBA (Doctor of Business Administration) from the University of Bath.
Career
Sponsored by LucasLucas Industries plc
Lucas Industries plc was a famous British manufacturer of components for the motor industry and aerospace industry. It was based in Birmingham. It was listed on the London Stock Exchange and was once a constituent of the FTSE 100 Index...
, the automotive electrical manufacturers, he went to work for Mars
Mars, Incorporated
Mars, Incorporated is a worldwide manufacturer of confectionery, pet food, and other food products with US$30 billion in annual sales in 2010, and is ranked as the 5th largest privately held company in the United States by Forbes. Headquartered in McLean, unincorporated Fairfax County, Virginia,...
upon graduation becoming production shift manager on Galaxy
Galaxy (chocolate)
Galaxy is a brand of milk chocolate made and marketed by Mars Incorporated. It is one of several related products punning upon the name Mars by using an astronomical name...
chocolate, and where he worked with Richard Baker, who became head of Boots.
King joined PepsiCo
PepsiCo
PepsiCo Inc. is an American multinational corporation headquartered in Purchase, New York, United States, with interests in the manufacturing, marketing and distribution of grain-based snack foods, beverages, and other products. PepsiCo was formed in 1965 with the merger of the Pepsi-Cola Company...
from 1989 being based in the Middle East, then moved to Grand Metropolitan
Diageo
Diageo plc is a global alcoholic beverages company headquartered in London, United Kingdom. It is the world's largest producer of spirits and a major producer of beer and wine....
in 1990, where he helped launch Häagen-Dazs
Häagen-Dazs
Häagen-Dazs is a brand of ice cream, established by Jewish-Polish immigrants Reuben and Rose Mattus in the Bronx, New York, in 1961. Starting with only three flavors: vanilla, chocolate, and coffee, the company opened its first retail store in Brooklyn, New York, on November 15, 1976...
ice-cream in the UK as managing director. He moved to Asda
Asda
Asda Stores Ltd is a British supermarket chain which retails food, clothing, general merchandise, toys and financial services. It also has a mobile telephone network, , Asda Mobile...
in 1994 and worked with Archie Norman
Archie Norman
Archibald John Norman is a British businessman and politician. He is at present the only FTSE 100 chairman to have sat in the House of Commons. On 18 November 2009, Norman was announced as the new chairman of ITV plc...
and Allan Leighton
Allan Leighton
Allan Leighton is an English businessman, former CEO of Asda and former non-executive Chairman of the Royal Mail.-Biography:Born in Hereford, the son of a Co-op stores manager, he was raised in Oxford...
becoming managing director of the hypermarkets division. King moved to Marks & Spencers in 2001, where he managed the M & S food division.
Sainsbury's
King joined Sainsbury's on 29 March 2004, and was seen as the company's last chance to win back market share from its rivals and remain independent - the previous CEO, Sir Peter Davis, failed to halt the supermarket's slide in market position despite a £3 billion investment in infrastructure. He was offered £675,000 a year. King's annual salary at Sainsbury's is £900,000.Shortly after joining Sainsbury's, King authorised the removal of the Colleague Christmas Bonus award. The Guardian
The Guardian
The Guardian, formerly known as The Manchester Guardian , is a British national daily newspaper in the Berliner format...
reported: "The new chief executive of ailing supermarket chain J Sainsbury ran into his first controversy yesterday as it emerged that he has been awarded free shares worth more than £500,000 in the same week as he has axed the £100 Christmas bonus paid to staff." The removal of the bonus was a contentious issue, given its consistent payment for 25 years and also given that this was the year Sir Peter Davis received disputed bonus payments.
In October 2004 King launched his recovery programme for the company under the banner "Making Sainsbury's Great Again". In January 2008 Sainsbury's announced twelve consecutive quarters of sales growth and achieved its target to grow sales by £2.5 billion,3 months ahead of schedule
On King's first day as Sainsbury's CEO (29 March 2004) the share price of the company closed at 279p on the London Stock Exchange. As of 23 September 2011 and after approximately 7 1/2 years service, the LSE quoted closing share price for J Sainsbury plc was 266p.
In September 2005 in an interview with The Guardian
The Guardian
The Guardian, formerly known as The Manchester Guardian , is a British national daily newspaper in the Berliner format...
King discussed the dominance of principal rival Tesco. While steering clear of calls for a Competition Commission
Competition Commission
The Competition Commission is a non-departmental public body responsible for investigating mergers, markets and other enquiries related to regulated industries under competition law in the United Kingdom...
inquiry into the No.1 UK supermarket, King did call for changes in planning laws to prevent Tesco from achieving a 40% market share. As of 2005 Tesco had more potential development projects than that of Sainsbury, Asda
Asda
Asda Stores Ltd is a British supermarket chain which retails food, clothing, general merchandise, toys and financial services. It also has a mobile telephone network, , Asda Mobile...
and Morrisons
Morrisons
Wm Morrison Supermarkets plc is the fourth largest chain of supermarkets in the United Kingdom, headquartered in Bradford, West Yorkshire, England. The company is usually referred to and is branded as Morrisons formerly Morrison's, and it is part of the FTSE 100 Index of companies...
combined. King also criticised Tesco CEO Terry Leahy
Terry Leahy
Sir Terry Leahy is a former CEO of Tesco, the largest British supermarket chain.He lives in Cuffley, Hertfordshire, with his wife, Alison and his three children.- Early life :...
for questioning the accuracy of Taylor Nelson Sofres market data. Leahy has argued that TNS over-estimates the size of his company's market share.
He was appointed Commander of the Order of the British Empire (CBE) in the 2011 Birthday Honours
2011 Birthday Honours
The Birthday Honours 2011 for the Commonwealth Realms were announced on 7 June 2011 in New Zealand and 11 June 2011 in United Kingdom to celebrate the Queen's Birthday of 2011.-Privy Councillors:...
for services to the retail industry.
Personal life
He lives in the village of HarburyHarbury
Harbury is a village and civil parish in the Stratford-on-Avon district of Warwickshire, England. In the 2001 census it had a population of 2,485....
, just south of Leamington Spa
Leamington Spa
Royal Leamington Spa, commonly known as Leamington Spa or Leamington or Leam to locals, is a spa town in central Warwickshire, England. Formerly known as Leamington Priors, its expansion began following the popularisation of the medicinal qualities of its water by Dr Kerr in 1784, and by Dr Lambe...
, Warwickshire, with his wife Claire (née Simmons) whom he married in May 1990 in Daventry
Daventry
Daventry is a market town in Northamptonshire, England, with a population of 22,367 .-Geography:The town is also the administrative centre of the larger Daventry district, which has a population of 71,838. The town is 77 miles north-northwest of London, 13.9 miles west of Northampton and 10.2...
. A self-admitted petrol-head, King traded his Maserati Quattroporte for a Lexus LS600h L
Lexus LS Hybrid
The Lexus LS is the fourth generation of the Lexus LS line of flagship sedans. Lexus debuted the model line at the 2006 North American International Auto Show, with variants including the standard wheelbase LS 460 and long wheelbase LS 460 L ; the chassis codes are derived from the fourth...
in March 2008 on environmental grounds.
King is an ambassador for The Scout Association
The Scout Association
The Scout Association is the World Organization of the Scout Movement recognised Scouting association in the United Kingdom. Scouting began in 1907 through the efforts of Robert Baden-Powell. The Scout Association was formed under its previous name, The Boy Scout Association, in 1910 by the grant...
. In 2007, he received an honorary doctorate from Bournemouth University
Bournemouth University
Bournemouth University is a university in and around the large south coast town of Bournemouth, UK...
.
In July 2011, King and his wife Claire separated and are to divorce after 21 years of marriage.
External links
News items
- Profile: Sainsbury's chief Justin King, by Jorn Madslien, BBC News, January 4 2005
- Times article June 25 2006
- Spectator January 17 2007 article
- Lexus hybrid woos Sainsbury's chief, by Jorn Madslien, BBC News, March 18 2008