UPDATE: Sainsbury Shuffles Senior Management Team

By Steve McGrath and Molly Neal Of DOW JONES NEWSWIRES LONDON (Dow Jones)--U.K. supermarket group J Sainsbury PLC (SBRY.LN) Monday shuffled its management team, putting current Chief Financial Officer Darren Shapland in charge of future developments at the company, and promoting John Rogers to the CFO post. The move is the latest in a series of management changes at U.K. supermarkets as they compete for customers amid fears a hike in the sales tax, known as value added tax, could curb consumer spending. Sainsbury's trading director Mike Coupe will become group commercial director and join the board, adding marketing to his responsibilities, while Helen Buck will take charge of the company's convenience store operations under Shapland. Shapland's role, which sees him take charge of the convenience stores, Sainsbury's Bank, the property portfolio and group strategy, suggests a renewed focus on areas outside the company's main supermarket chain. Along with rivals, it has expanded in both convenience stores and financial services in recent years. Shore Capital analyst Clive Black said the management changes should help with "driving space and non-food participation in particular whilst materially and sustainably building margins." Sainsbury Chief Executive Justin King said: "Both Darren and Mike have made major contributions to our performance over recent years and their new roles will be vital in delivering the next stage of our growth strategy." The shake-up follows news earlier this month that Terry Leahy, chief executive at rival Tesco plc (TSCO.LN), will retire in March next year to be replaced by Philip Clarke, who currently heads Tesco's operations in Asia and Europe. At U.S.-based Wal-Mart Stores Inc.'s (WMT) Asda Group Ltd, Andy Clarke has taken over from Andy Bond, while Marc Bolland, formerly the boss of supermarket group William Morrison Supermarkets PLC (MRW.LN), is now CEO at Marks & Spencer Group plc (MKS.LN). Bolland has been replaced at Morrisons by Dalton Philips, who joined from Canadian retailer Loblaw Companies Ltd (LBLCFG). Sainsbury's management changes will come into effect July 19. At 1232 GMT, Sainsbury's shares were down 0.3% at 331 pence, underperforming a 0.8% rise in the FTSE 100. -By Steve McGrath, Dow Jones Newswires; 44-20-7842-9284; steve.mcgrath@dowjones.com (END) Dow Jones Newswires June 21, 2010 08:43 ET (12:43 GMT)