- John Sainsbury, Baron Sainsbury of Preston Candover
John Davan Sainsbury, Baron Sainsbury of Preston Candover, KG (Born 1927) is the
Presidentof J Sainsbury, a British businessman and politician. He is a life peerwith the title Baron Sainsbury of Preston Candover, of Preston Candover in the County of Hampshireand sits in the House of Lordsas a member of the Conservative Party.
Early and private life
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 Lanein 1869 which became the British supermarketchain Sainsbury's.
He became chairman of Sainsbury's from 1969-1992. He is credited with leading the company to become a successful supermarket chain. [http://observer.guardian.co.uk/business/story/0,6903,1001526,00.html] Following his retirement, his cousin and Labour supporter David Sainsbury (now Lord Sainsbury) became Chairman.
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.
As of May 2008, Lord Sainsbury of Preston Candover continues to control just under 3% of the company, and benefits from 1.6% of the equity included in the above. His family as a whole control approximately 15% of Sainsbury's.
In 1985 he and his two brothers provided funds to construct a new wing of the
National Gallery, Londonat 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
* [http://www.john-sainsbury.com/ John Davan Sainsbury]
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