Sir Peter Davis
Encyclopedia
Sir Peter Davis is a British
businessman
, who was until June 2004, the chairman of J Sainsbury plc, which operates the UK supermarket
chain Sainsbury's. He worked for J Sainsbury from 1976 to 1986 and was responsible for all buying and marketing operations.
He was chief executive of Prudential plc
from 1995 having joined the company as a non-executive director
. During this period, the company was condemned by the Treasury for mis-selling more pensions than any other firm. The Securities and Investments Board ordered the firm to retrain its entire sales staff, due to 'continuing and persistent breaches' of the standards of training for the sales force.
Davis was knight
ed in 1997 for services to training and industry. In 1997 he featured in the Prudential's television advertising campaign 'The Man from the Pru', built around the image of Davis as a friendly man advising on his customers' futures. In reality, Prudential staff were required to call him 'Mr Davis' when they met him.
He rejoined Sainsbury's on 1 March 2000 as Chief Executive Officer
and implemented a £2bn investment in upgrading IT systems, distribution depots and stores. During his term Sainsbury's was demoted to third in the UK grocery market, behind Tesco
and Asda
. However in his first two years he raised profits above target and delivered significant cost savings.
With the arrival of Justin King
as CEO in 29 March 2004, Davis was promoted to chairman. Sainsbury's embarrassed itself with the aborted appointment of Ian Prosser
, ex-Bass
chairman.
Davis was to step down in July 2005, but in June 2004 he was forced to quit in the face of an impending shareholder revolt over his salary and bonuses. Investors were angered by a bonus share award of over £2m in the face of the supermarket's drop in market share, despite having actually exceeded targets. On 19 July 2004 Davis' replacement, Philip Hampton, was appointed.
Sir Peter has also served on the boards of the Boots Co. Ltd (The UK's largest pharmacy and beauty retailer)
Davis was previously on the board of Business In The Community from 1991–2005, having been Chairman from 1996 to December 2001 and served two terms on the Board of the Royal Opera House and was Trustee and Chairman of the Royal Opera House Foundation.
Sir Peter is a Senior Advisor and a member of the Advisory Board of Permira
, Europe’s largest private equity company. He has served as a Trustee of the Princess Royal Trust for Carers. His most prominent position currently is that of Chairman of Marie Curie, a cancer care charity in the UK.
United Kingdom
The United Kingdom of Great Britain and Northern IrelandIn the United Kingdom and Dependencies, other languages have been officially recognised as legitimate autochthonous languages under the European Charter for Regional or Minority Languages...
businessman
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 was until June 2004, the chairman of J Sainsbury plc, which operates the UK supermarket
Supermarket
A supermarket, a form of grocery store, is a self-service store offering a wide variety of food and household merchandise, organized into departments...
chain Sainsbury's. He worked for J Sainsbury from 1976 to 1986 and was responsible for all buying and marketing operations.
He was chief executive of Prudential plc
Prudential plc
Prudential plc is a multinational financial services company headquartered in London, United Kingdom.Prudential's largest division is Prudential Corporation Asia, which has over 15 million customers across 13 Asian markets and is a top-three provider of life insurance in mainland China, Hong...
from 1995 having joined the company as a non-executive director
Non-executive director
A non-executive director or outside director is a member of the board of directors of a company who does not form part of the executive management team. He or she is not an employee of the company or affiliated with it in any other way...
. During this period, the company was condemned by the Treasury for mis-selling more pensions than any other firm. The Securities and Investments Board ordered the firm to retrain its entire sales staff, due to 'continuing and persistent breaches' of the standards of training for the sales force.
Davis was knight
Knight
A knight was a member of a class of lower nobility in the High Middle Ages.By the Late Middle Ages, the rank had become associated with the ideals of chivalry, a code of conduct for the perfect courtly Christian warrior....
ed in 1997 for services to training and industry. In 1997 he featured in the Prudential's television advertising campaign 'The Man from the Pru', built around the image of Davis as a friendly man advising on his customers' futures. In reality, Prudential staff were required to call him 'Mr Davis' when they met him.
He rejoined Sainsbury's on 1 March 2000 as Chief Executive Officer
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...
and implemented a £2bn investment in upgrading IT systems, distribution depots and stores. During his term Sainsbury's was demoted to third in the UK grocery market, behind Tesco
Tesco
Tesco plc is a global grocery and general merchandise retailer headquartered in Cheshunt, United Kingdom. It is the third-largest retailer in the world measured by revenues and the second-largest measured by profits...
and 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...
. However in his first two years he raised profits above target and delivered significant cost savings.
With the arrival of Justin King
Justin King (businessman)
Justin Matthew King, CBE 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...
as CEO in 29 March 2004, Davis was promoted to chairman. Sainsbury's embarrassed itself with the aborted appointment of Ian Prosser
Ian Prosser
Sir Ian Prosser is a UK businessman.He is Chairman of The Navy Army & Airforce Institutes,Chaiman JKX Oil & Gas, Chairman BP Pension Trustees PLC and a non-executive director of Sara Lee Corporation based in Chicago....
, ex-Bass
Bass (beer)
The Bass Brewery was founded as a brewery in 1777 by William Bass in Burton upon Trent, England. The main brand was Bass Pale Ale, which was once the highest selling beer in the UK...
chairman.
Davis was to step down in July 2005, but in June 2004 he was forced to quit in the face of an impending shareholder revolt over his salary and bonuses. Investors were angered by a bonus share award of over £2m in the face of the supermarket's drop in market share, despite having actually exceeded targets. On 19 July 2004 Davis' replacement, Philip Hampton, was appointed.
Sir Peter has also served on the boards of the Boots Co. Ltd (The UK's largest pharmacy and beauty retailer)
Davis was previously on the board of Business In The Community from 1991–2005, having been Chairman from 1996 to December 2001 and served two terms on the Board of the Royal Opera House and was Trustee and Chairman of the Royal Opera House Foundation.
Sir Peter is a Senior Advisor and a member of the Advisory Board of Permira
Permira
Permira is a United Kingdom-based private equity firm with global reach. The firm advises funds with a total committed capital of approximately €20 billion....
, Europe’s largest private equity company. He has served as a Trustee of the Princess Royal Trust for Carers. His most prominent position currently is that of Chairman of Marie Curie, a cancer care charity in the UK.