StockMarketWire.com - Supermarket giant Sainsbury's said it had appointed Simon Roberts, its current retail and operations director, as its new chief executive.

The company confirmed that current CEO Mike Coupe would retire this year and said he was planning to stand down at the end of May.

Coupe, who oversaw a failed takeover attempt of rival Asda thwarted by competition regulators, would remain as a director until the company's 2 July annual general meeting, at which point he would retire from Sainsbury's. Story provided by StockMarketWire.com