Justin King Biography
Justin King CBE is a businessman from England. King was the CEO of J Sainsbury plc, the parent company of the Sainsbury’s supermarket chain, for eleven years before retiring in July 2014.
How old is Justin King? – Age
He is 44 years old as of 13 June 2022. He was born in 1979 in Palmer, Alaska, United States. His real name is Justin Matthew King.
Justin King Family – Education
He was raised in Dorridge, close outside Solihull, the son of a petrochemical business salesperson, and attended Tudor Grange Grammar School (a grammar school that became a comprehensive while he was there). King earned a degree in Business Administration from the University of Bath in 1983. In addition, he received an Honorary DBA (Doctor of Business Administration) from the University of Bath in 2009.
Justin King Wife – Son
He was married to Claire Simmons from the year 1990 to 2011. In April 2011, King gave his wife Claire half of his Sainsbury’s stock for “financial planning purposes.” After 21 years of marriage, she divorced him three months later. Jordan King, their son, is a racing driver who competed in Formula Three and Formula Two before transferring to the IndyCar Series in 2018.
Justin King Net Worth
He has an estimated net worth of $3 Million.
Justin King PepsiCo
King joined PepsiCo in 1989 and was located in the Middle East. In 1990, he went to Grand Metropolitan and helped launch Häagen-Dazs ice cream in the UK as managing director. In 1994, he joined Asda as managing director of the hypermarkets division. In 2001, King joined Marks & Spencer to run the M&S food division.
Justin King Sainsbury’s – Career
King joined Sainsbury’s on March 29, 2004, and was seen as the company’s last chance to regain market share from rivals and remain independent. The previous CEO, Sir Peter Davis, was unable to halt the supermarket’s decline in market position despite investing £3 billion in infrastructure. King joined Sainsbury’s on March 29, 2004, and was seen as the company’s last chance to do so. He was offered a salary of £675,000 per year. King made £900,000 a year at Sainsbury’s, and he also got bonuses that ranged from £3 million to £6 million a year.
King authorized the elimination of the Colleague Christmas Bonus shortly after joining Sainsbury’s. According to the Guardian, Yesterday, it was revealed that the new chief executive of the struggling supermarket chain J Sainsbury had been given free shares worth more than £500,000 in the same week that he had eliminated the £100 Christmas bonus paid to employees. This was the chief executive’s first controversy. Given that Sir Peter Davis had received disputed bonus payments in the same year and that the bonus had been paid out consistently for 25 years, the decision to end it was contentious.
In October 2004 Ruler sent off his recuperation program for the organization under the flag “Making Sainsbury’s Extraordinary Once more”. Sainsbury’s announced twelve consecutive quarters of growth in sales in January 2008, exceeding its goal of £2.5 billion in sales three months ahead of schedule.
King discussed Tesco’s dominance in an interview with The Guardian in September 2005. King called for changes to planning laws to prevent Tesco from gaining a 40 percent market share, but he did not call for an investigation by the Competition Commission into the leading supermarket in the UK. Tesco had more potential development projects in 2005 than Sainsbury, Asda, and Morrisons put together. King also criticized Terry Leahy, CEO of Tesco, for questioning Taylor Nelson Sofres’ market data accuracy. TNS, according to Leahy, overestimates his company’s market share.
In the Birthday Honours of 2011, he was given the rank of Commander of the Order of the British Empire (CBE) for his contributions to the retail industry. In January 2014, King said that he would step down as CEO in July 2014. Mike Coupe, the Group Commercial Director of the company, was named as his replacement.