Shapland exits from Sainsbury's

Sainsbury's shocked the UK grocery sector yesterday by saying that Darren Shapland, its group development director, will step down at the grocer's annual meeting on 13 July.

He joined as finance director in 2005 and had been considered a potential successor to Justin King, the chief executive of Sainsbury's. Mr Shapland will remain as non-executive chairman of Sainsbury's Bank, for which he will receive £150,000 a year. Luke Jensen, Sainsbury's managing director of non-food, will take on the role of group development director.