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Sainsbury's has announced its chief executive Mike Coupe will retire from the supermarket group in May. Mr Coupe has led Sainsbury's for almost six years, during which he oversaw a failed attempt to merge with rival supermarket Asda. The head of Sainsbury's retail and operations, Simon Roberts, will take over from Mr Coupe. "This has been a very difficult decision for me personally," Mr Coupe said. "There is never a good time to move on, but as we and the industry continue to evolve, I believe now is the right time for me to hand over to my successor.". Mr Coupe's departure is a surprise after he said last May he would be "sticking to the company" when asked whether he had been asked to step down after the failed merger. Full story

22 January