Another senior UK accountant is to take the chair at Sainsbury’s.
Martin Scicluna, a long-serving partner and chairman at Deloitte, has been named Sainsbury’s chairman. He will take over from former GUS finance director David Tyler in November.
Scicluna is currently chairman of RSA Insurance, and will leave the chair role at Great Portland Estates at or before its 2019 AGM. A former audit committee chair at Worldpay, Scicluna has also served on Lloyds Banking Group’s board.
Senior independent director Dame Susan Rice said Tyler had been an “outstanding steward during his time as chairman, which included the acquisition of Home Retail Group and the proposed deal to merge with Asda.
Issues with driving synergies between Tullet Prebon and ICAP appear to have led to the hasty departure of chief executive John Phizackerley.
He left the role with immediate effect on 10 July, and was replaced by its global broking chief Nicolas Bretau – subject to Financial Conduct Authority approval.
Chairman Rupert Robson said the potential for the combined business was still “extremely compelling”, but “a change of leadership is required to execute our medium-term strategy and deliver the detail of the integration process”.
The Financial Times reported tension between potential bonuses at board level, versus efficiency savings and productivity drives on its trading floors.
Lorraine Trainer joined TP ICAP as a non-executive director last month.
Former Virgin Atlantic and Porsche GB finance director Julie Southern is joining Ocado as a non-executive director.
Southern is an experienced board member, including a number of audit committee chair roles: Cineworld; DFS Furniture; and Rentokil.
She is also set to join easyJet’s board in August and step down from Stagecoach’s board.