date:Jun 12, 2014
British grocer J Sainsbury posted a second straight fall in quarterly underlying sales, highlighting the challenges facing its new CEO as the long-serving Justin King steps down amid subdued consumer demand and mounting competition.
King, credited with reviving Sainsbury's fortunes during a decade at the helm, will be succeeded by commercial director Mike Coupe after the firm's shareholder meeting on July 9.
The management change comes at a time when the UK grocery sector is in a state of flux