Analysis: What will Justin King do next?

No comments

Justin King remained tight-lipped about his future plans this morning but the offers are likely to come thick and fast for the man Management Today named Most Admired Business Leader last year. But which direction will he take?

Despite speculation about his future plans, King insisted this morning he had “not talked to anybody about any job”.

“My focus for the next six months is the handover of the business. I’m sure some opportunities will come my way and I will consider those as and when,” he said.

However, King suggested that he was eyeing another big executive role. “I certainly think I have another big job in me. There’s plenty of energy left in the old dog yet,” he said.

Retail Week takes a look at some of King’s future career option:

FORMULA ONE: King has been widely tipped to replace Bernie Ecclestone as chief executive of Formula One. Ecclestone said last year that he rejected Formula One owner CVC Partners’ proposal of King as his successor, but the situation may have changed now that the motor sports mogul has stepped down from the board while he faces bribery charges. King has strong links to motor sports - his son Jordan is the reigning champion of Formula Three.

MARKS & SPENCER: Poor M&S has been under the cosh as clothing sales have declined. That has piled the pressure on chief executive Marc Bolland. Should Bolland exit the retailer, King – who took over a struggling Sainsbury’s and transformed it to the star performer among the big four grocers - would be a prime candidate to lead a turnaround. King has knowledge of M&S - he previously ran its food farm. A non-compete arrangement means that King could not work for M&S or another grocer until 12 months after his departure, however.

FMCG: King cut his teeth in FMCG and has worked for brands including Mars and Pepsi. He revamped Sainsbury’s and give it a point of differentiation beyond price in the eyes of its shoppers. Few would be surprised if King turned his FMCG experience to one of the world’s largest brands such as Coca Cola or indeed, his training ground, Mars.

POLITICS: King is often a spokesman for retail and is an excellent orator. His role at Sainsbury’s gives him exemplary insight into consumers and the state of the economy and he has impressed on shows such as Question Time. King has already served in the Prime Minister’s Business Advisory Group between 2010 to 2012 and could be well-suited for a life in politics.

GOING PLURAL: Although King says there is another “big job” in him, he could opt to follow other retail alumni such as Sir Terry Leahy and Sir Stuart Rose and take on a wealth of non-executive roles. King would be in high demand and could use his vast retail experience to inform other retailers’ growth plans.

THE NEW SEB COE: King was a member of the London Organising Committee of the Olympic Games and Paralympic Games between 2009 and 2013 and spearheaded Sainsbury’s sponsorship of the Paralympics. Few marketeers would have felt confident aligning disability with a food offer but the sponsorship was an unparalled success. King could put his business nous and insider knowledge of organising global events such as the Olympics to spearhead the UK’s next major sporting push.