Sainsbury’s CFO steps down, successor announced

UK supermarket chain Sainsbury’s has announced its CFO Kevin O'Byrne will retire from the business in March 2023 after six years in the role.

The retailer’s commercial and retail finance director Bláthnaid Bergin will succeed O'Byrne, effective March 6.

Bergin joined Sainsbury's in 2019 as group director of finance before being promoted in 2021 to commercial and retail finance director. Prior to joining Sainsbury's, Bergin was CFO at British insurance company Aviva.

The news of the executive change comes the same day Sainsbury’s revealed its first-quarter clothing sales were “in line with expectations”.

The company, which owns fashion brand Tu Clothing, said clothing sales in the first quarter were down 10.1 percent compared to a strong comparative period a year earlier. Compared to three years ago, prior to the pandemic, clothing sales were up 3.9 percent.

Sainsbury’s total retail sales excluding fuel dropped 4.5 percent in the quarter compared to the year before, but were up 5.4 percent when compared to three years ago.