Belfast Telegraph

Poundland boss Kevin O'Byrne to be Sainsbury's new finance chief

Supermarket giant Sainsbury's has bagged the boss of Poundland as its new chief financial officer.

Kevin O'Byrne, the chief executive of the budget retailer, will join the Big Four grocer on January 9 next year.

He was previously chief executive of B&Q UK & Ireland and group finance director of Dixons Retail.

The move comes after John Rogers - the supermarket's previous chief financial officer - was made chief executive of Argos.

Sainsbury's said last month that it would accelerate the roll-out of Argos stores within its supermarkets, with each outlet in the country having a concession or a click and collect point.

The move is part of integration plans between the two retailers, following the grocery giant's £1.4 billion takeover of Argos and Habitat owner Home Retail Group.

Mike Coupe, group chief executive of Sainsbury's, said: "We are two years into the delivery of our strategy and this is an important time as we integrate the Argos and Habitat businesses into the group.

"Kevin brings a wealth of retail and finance experience and a track record in growing businesses."

Sainsbury's said Ed Barker will continue to work as interim chief financial officer until Mr O'Byrne joins the firm next year.

Mr O'Byrne, who is also the chairman of the audit committee for Land Securities, said: "Sainsbury's is a strong business with a clear strategy and I am really excited about joining at this important point in Sainsbury's journey."