Justin King (businessman)

Did You Know?

• King was raised in Dorridge, just outside Solihull, the son of a petrochemical company salesman.
• He attended Tudor Grange Grammar School in Solihull, which became a comprehensive while he was there.
• In 2009 he received an honorary DBA from the University of Bath.

Career

After university, King took a role at Mars overseeing production of Galaxy chocolate. He then spent time with PepsiCo in the Middle East starting in 1989, before moving to Grand Metropolitan the following year to serve as managing director and help bring Häagen-Dazs ice cream to the UK. In 1994 he joined Asda as managing director of its hypermarkets division, and in 2001 he moved to Marks & Spencer to run its food division. King became chief executive of Sainsbury's on 29 March 2004, viewed as the chain's final opportunity to recover lost market share and avoid a takeover, after predecessor Sir Peter Davis failed to reverse its decline despite spending £3 billion on infrastructure.

His starting salary was set at £675,000, though he actually earned £900,000 annually, plus a bonus ranging from £3 million to £6 million each year. Soon after arriving, King ended the Colleague Christmas Bonus, a £100 payment that had been given for 25 years, sparking controversy because it came the same year Sir Peter Davis received disputed bonuses. In October 2004 King launched a revival plan called "Making Sainsbury's Great Again." By January 2008 the company reported twelve straight quarters of sales growth and hit its £2.5 billion sales increase target three months early.

In a September 2005 interview, King addressed the market dominance of rival Tesco, urging changes to planning rules to stop Tesco from capturing 40% of the market, and criticised Tesco CEO Terry Leahy for disputing the accuracy of Taylor Nelson Sofres market data. King was made a Commander of the Order of the British Empire in the 2011 Birthday Honours for his work in retail.

Personal life

Justin King, who calls himself a petrol-head, swapped his Maserati Quattroporte for a Lexus LS600h L in March 2008 for environmental reasons. He lives in Harbury, Warwickshire. An ambassador for The Scout Association, he received an honorary doctorate from Bournemouth University in 2007. In April 2011, he transferred half his Sainsbury’s shares to his wife Claire for financial planning; she divorced him three months later, ending a 21-year marriage. Their son, Jordan King, is a racing driver who competed in Formula Three and Formula 2 before joining the IndyCar Series in 2018.