Sainsbury’s has named its shortlist of potential successors to chairman Sir Philip Hampton.
Hampton recently became chairman of the Royal Bank of Scotland – a role he reportedly felt was too time-consuming to combine with his Sainsbury’s chairmanship.
Former Unilever CEO and Thomson Reuters deputy chairman Niall FitzGerald and Burberry chairman John Peace are shortlisted contenders for the £396,000 a year job, according to the Sunday Times.
Sainsbury’s plans to have a successor in place in time for its AGM on July 15, the paper reports.
Meanwhile, Marks & Spencer is said to be ready to begin its search for a new chief executive. Deputy chairman Sir David Michels will kick off the hunt for a successor to Sir Stuart Rose this September.
Rose had previously announced he would depart the company by July 2011, but faces a shareholder revolt at next month’s AGM over his executive chairman role.
The Local Authority Pension Fund Forum, a major shareholder, will call for Rose to relinquish his chairmanship by July 2010.