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Sainsbury's appoints Lady Susan Rice as non-exec director

Wednesday May 8th 2013

Sainsbury's has announced that Lady Susan Rice, the managing director of Lloyds Banking Group Scotland, will join its board as a non-executive director next month.

In a separate announcement, the supermarket said it will acquire from Lloyds Banking Group the remaining 50% of Sainsbury's Bank that it does not already own.

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Commenting on the appointment, David Tyler, Sainsbury's chairman, said: "We are very pleased to welcome Susan to the board of Sainsbury's.  She has wide experience as a non-executive director, and her career in retail banking is particularly relevant in light of today's announcement of the agreement to take full ownership of Sainsbury's Bank."

Rice was the first woman to head a UK clearing bank as chairman and chief executive of Lloyds TSB Scotland.  Prior to this, she held a number of senior roles at NatWest Bancorp in the USA.