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John Sainsbury, Baron Sainsbury of Preston Candover
From Wikipedia, the free encyclopedia
John Davan Sainsbury, Baron Sainsbury of Preston Candover, KG (b. 1927) is a British businessman and politician. He is a life peer with the title Baron Sainsbury of Preston Candover, of Preston Candover in the County of Hampshire and sits in the House of Lords as a member of the Conservative Party.
He is the son of Alan Sainsbury, Baron Sainsbury, and the nephew of Sir Robert Sainsbury. His younger brothers are Simon and Timothy, former Conservative Minister of Trade; David Sainsbury, Labour Minister for Science, is a cousin. His great-grandfather, John James Sainsbury, established a grocer's at 173 Drury Lane in 1869 which became the British supermarket chain Sainsbury's.
Sainsbury attended Worcester College, Oxford, reading History. He is married to the former ballerina Anya Linden.
He became chairman of Sainsbury's in 1969, and the company was floated on the London Stock Exchange in 1973. He was Chairman of the J Sainsbury supermarket chain until his retirement in 1992, and is credited with leading the company to become the UK's most successful supermarket chain. [1] Following his retirement, his cousin and Labour supporter David Sainsbury (now Lord Sainsbury) became Chairman. By 1998 Sainsbury's had lost its position as the UK's largest supermarket chain to Tesco.
In 1985 he and his two brothers provided funds to construct a new wing of the National Gallery, London at a cost of around £50 million, which opened in 1991 as the Sainsbury Wing.
In 1993, he joined with Lord Rothschild to set up the Butrint Foundation to record and conserve the archaeological site of Butrint in Albania.
J Sainsbury plc was informed on 5 December 2006 by Lord Sainsbury of Preston Candover KG, that he no longer holds a reportable interest in the Company following the transfer of shares within his family. As a result, his 3.89% shareholding in Sainsbury's is no longer reportable, and as such, the Sainsbury family's reportable interest now represents 16% of the Company (as of December 2006).
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