Company news
Sir Timothy Sainsbury retires as Non-Executive Director of J Sainsbury plc
June 2, 1999
London, June 2, 1999 - J Sainsbury plc today announced that Sir Timothy Sainsbury has decided to reduce his business commitments and has advised the Board of his intention to retire as a non-executive director of the company with effect from its Annual General Meeting on July 21st, 1999.
Sir Timothy's decision to step down as a non-executive director concludes his very close association with the company over some 43 years.
Commenting on Sir Timothy's decision, Sir George Bull, Chairman of J Sainsbury plc, said "Sir Timothy has made a unique and significant contribution to many aspects of Sainsbury's over many years. We thank him for this and will all miss his experience, insight and wisdom. We wish him well for the future".
Sir Timothy Sainsbury said, "I retire from the Company confident in its future strategic direction. We have a strong management team, and I believe that J Sainsbury plc will continue to provide its customers with outstanding quality and value, as it has during the last 130 years. I intend to remain a major and committed shareholder".
Notes to editors:
Sir Timothy Sainsbury's Career Outline
- Sir Timothy Sainsbury joined Sainsbury's in 1956 and took overt responsibility for buildings and engineering in 1959 as the deputy to the director in charge of these areas.
- Appointed to the Board March 26, 1962 with responsibility for building, engineering and estates.
- Elected Conservative MP for Hove in November 1973, handing over his executive responsibilities as Sainsbury's Development Director. Remained on Sainsbury's board in a non-executive capacity.
- Resigned as a non-executive director in 1983, following his appointment as a Government Whip. Thereafter held various Government positions, including Minister for Trade and Minister for Industry.
- Knighted in 1995.
- Re-appointed as non-executive director of J Sainsbury plc in 1995 following his retirement from politics. Member of the Audit and Nominations Committee.
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