Sainsbury’s has announced that it will promote its CFO John Rogers to become the chief executive of its proposed newly acquired business, the Home Retail Group (HRG).

Sainsbury’s is expected to complete the deal in the third quarter of this year and Mr Rogers will replace John Walden who is the current chief executive of HRG and will be stepping down from the company once it has been sold.

After the proposed transaction has been completed, Mr Rogers will report to Sainsbury’s CEO Mike Coupe in his new role and will be responsible for combining the company’s non-food business with Argos.

He will also be responsible for delivering the continuing performance and transformation of HRG.

Sainsbury’s also confirmed that Mr Rogers, who will now be based in Milton Keynes at HRG’s headquarters, will stay as part of the J Sainsbury plc board and the company’s group operating board.

Mr Rogers has been Sainsbury’s CFO for the last six years and is currently responsible for Sainsbury’s Bank, property, procurement, business development and online activities.

The company’s group finance director, Ed Barker, will also be appointed as the interim CFO of J Sainsbury plc on the same date that Mr Rogers takes up his new post.

Mr Barker joined the firm from Burberry eight years ago and in March 2012 was appointed as group finance director.

Mr Coupe said he is delighted to appoint Mr Rogers to the new position at HRG once the deal to acquire the business has been completed.

He said that Mr Rogers is a very talented team member and has played a big part in the delivery of the company’s strategy and performance.

Meanwhile, Mr Rogers himself said that customers, shareholders and colleagues will all be excited by the partnership of Sainsbury’s and Argos and that he is delighted to have been given the chance to work with and lead the talented teams at HRG.

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