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Sainsbury's 1.4 billion pound ($2 billion) offer for Home
Retail, the owner of electricals to jewellery store chain Argos,
was recommended by the Home Retail board in April.
The deal remains subject to regulatory and shareholder approval
with Britain's competition watchdog currently examining the
tie-up. Sainsbury's hopes to complete the deal in the third
quarter of the year.
Rogers, who has been Sainsbury's chief financial officer since
2010 and last year was also given control of online and
strategy, will be responsible for combining Sainsbury's non-food
business with Argos.
Sainsbury's is buying Argos to try to accelerate growth by
creating Britain's largest general merchandise retail business
at a time of intense competition in the supermarket sector.
Home Retail said in a separate statement on Friday that its
chief executive John Walden would quit when the takeover by the
supermarket is finalised.
Walden could potentially walk away with as much as 5 million
pounds ($7.2 million) in cash and shares depending on what Home
Retail Group's remuneration committee determines for his long
term, performance-linked share awards.
Home Retail is currently checking whether it has overcharged
customers.
It said on Thursday that it may need to increase a provision by
up to 30 million pounds to compensate financial services
customers who were overcharged, taking the shine off its best
quarterly trading report for two years.
(Reporting by Sarah Young; Editing by Keith Weir)
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