Argos owner's chief executive to step down

Home Retail's Walden departs after Sainsbury deal

10th June, 2016
Sainsbury finance chief taking over at Home Retail Pic: Getty

The chief executive of Argos owner Home Retail is to step down once its takeover by supermarket group Sainsbury is completed.

Sainsbury said today that its chief financial officer John Rogers will replace John Walden. The purchase should be concluded in the third quarter, Sainsbury said.

The grocer is paying £1.4 billion for the owner of the Argos chain to bolster its online distribution and convenience offering.

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