Sainsbury’s Bank chairman Roger Davis to step down

Sainsbury’s said on Wednesday that Roger Davis plans to step down as chairman of its banking division.

A search for his successor will begin and a further announcement about the timing of his retirement and the appointment of a new chairman will be made in due course, it said.

Davis has been chairman of the bank for nearly seven years. He was appointed in May 2013 when Sainsbury's Bank became wholly owned by Sainsbury's and established its own regulated governance structure.