DAVIS RESIGNS FROM J SAINSBURY AMID BONUS DISPUTE

LONDON -- J Sainsbury here last week said that Peter Davis resigned as chairman and a director of the multinational retailer. The company named Philip Hampton to succeed him as chairman, effective July 19. Hampton was group finance director at Lloyds TSB Group from 2002 to 2004, and he previously had been with several other large British multinational firms in various industries. Davis was named chairman

LONDON -- J Sainsbury here last week said that Peter Davis resigned as chairman and a director of the multinational retailer. The company named Philip Hampton to succeed him as chairman, effective July 19. Hampton was group finance director at Lloyds TSB Group from 2002 to 2004, and he previously had been with several other large British multinational firms in various industries. Davis was named chairman earlier this year after having been chief executive officer for four years. He recently had been under pressure from shareholders after accepting a bonus worth about $4.4 million at a time when the company's performance has been lagging that of its rivals, according to reports. The company said it could not reach an agreement with Davis on his bonus at the time of his resignation, and that the matter would be referred to legal representatives of the two parties. Justin King, who succeeded Davis as CEO earlier this year, remains in that capacity.