Sainsbury has revealed that deputy managing director Sara Weller is to leave the company at the end of June to become managing director of Argos.

Outgoing chief executive Sir Peter Davis said Weller had been a central member of its senior management team and had made a “significant contribution at a time of great change”.

Sainsbury also said as previously announced that Justin King would take up his post as chief executive, with Sir Peter moving to group chairman on March 29. And that Sir George Bull and John Ashstead would retire from the board on March 27.