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LONDON, June 10 (Reuters) - Home Retail, theArgos-store owner which is being acquired by Sainsbury's, said its chief executive John Walden would quit whenthe takeover by the supermarket is finalised, with Sainsbury'slining up its CFO to fill the roll.
Sainsbury's said it would promote its finance boss JohnRogers to the position of CEO of Home Retail, and in that rolehe would also be responsible for combining Sainsbury's non-foodbusiness with Argos.
Agreed in April, the 1.4 billion pound ($2.0billion)takeover of Home Retail by Sainsbury's is expected tocomplete in the third quarter of this year but is still subjectto regulatory and shareholder approval.($1 = 0.6916 pounds) (Reporting by Sarah Young, editing by James Davey)