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David John Sainsbury, Baron Sainsbury of Turville, HonFRS, HonFREng[1] (24 October 1940) is a British politician, businessman and philanthropist. Sainsbury's share price increased on the day of this announcement. John Sainsbury, who passed away on 14 January, aged 94, is remembered for his business acumen, but he also had an avid interest in archaeology and the arts. It was said by the Financial Times to be "one of the biggest donations ever made to a British university surpassed only by a 2000 gift to the university by the Bill and Melinda Gates Foundation. [18] He categorically denied that his resignation had anything to do with the "Cash for Peerages" affair, although this was contradicted by subsequent press reports attributed to "Labour insiders" which suggested that his resignation was indeed a direct consequence of the affair.[19]. Between the flotation in 1973 and John Sainsburys retirement in 1992 the companys market capitalisation rose from 117m to over 8bn. lord sainsbury contact. British politician, businessman and philanthropist, David Sainsbury, Baron Sainsbury of Turville, Chancellor of the University of Cambridge. The Manor once belonged to the abbey at St Albans, but was seized by the Crown in the Dissolution of the Monasteries in 1547. . 15 January 2022. . It was a period of rapid change in the grocery business. Martin Scicluna, current Chair of Sainsbury's, has announced that Lord John Sainsbury of Preston Candover has passed away. At the time, the Lib Dems were fighting on a fiercely anti-Brexit platform. Lord David Sainsbury, former chair of the eponymous grocery store chain, has given 2mn to Labour in a giant enhance for Britain's primary opposition social gathering because it gears up for the following common election. In 2001, the Sainsbury Trusts donated some $90 million to a wide range of good causes both in Great Britain and abroad. The Sainsbury family has also set up a number of buildings, to house their various interests. He was Finance Director of J. Sainsbury plc from 1973 through 1990, Deputy Chairman from 1988 through 1992, and Chairman from 1992 through 1998. The Gatsby Charitable Foundation, The Peak, 5 Wilton Road, London, SW1V 1AP. Data released on Thursday shows the central party attracted more than 6 million from individuals . European Union and British. [6] To further his philanthropy interests, he placed 92million of his shares (representing 5.28% of the Company's share capital), into his investment vehicle, Innotech Advisers Ltd (which donates all its dividends to charity), meaning his beneficial stake is just 0.57% (lower than JD's 1.6% beneficial interest). Lord Sainsbury of Preston Candover, life president of supermarket chain Sainsbury's and a Conservative peer, has died aged 94. Ivor Crewe, Anthony King, "SDP: The Birth, Life and Death of the Social Democratic Party", Oxford University Press, 1995, p. 249, 251. Parliamentary career Experience Focus areas Voting record Spoken contributions Written questions Official portrait Parliamentary career John was the eldest son of Alan Sainsbury, who would also be chairman of the company in the 1960s and become a Labour life peer, and his first wife, Doreen Davan Adams. He was Finance Director of J. Sainsbury plc from 1973 to 1990 and Chairman from1992 to 1998. A minister under Tony Blair, Lord Sainsbury gave 2.15m to Labour and 2.125m to the Liberal Democrats in the three months to June. [14][verification needed], In April 2006, it was reported Sainsbury "faced a possible probe into an alleged breach of the ministerial code after admitting he had failed to disclose a 2 million loan he had made to the Labour Party despite publicly stating that he had." He could be a temperamental boss. When David Sainsbury announced his intention to give away 1 billion to charity in 2005, his 23% stake was sold down, eventually to 12.9% by early 2007. The party was also overtaken by Labour over the period. CONTACT US + 44 207 451 2500 (Lines open Mon-Fri, 9:00-17:00. [28], During the 2019 United Kingdom general election campaign Sainsbury donated 8 million to the Liberal Democrats, over half the party's election funding, making its election donations larger than the Labour Party's.[29]. Finally in 1969, he was appointed Chairman and Chief Executive until his retirement in 1992. UK's biggest political donor, Lord Sainsbury, to end his contributions Peer to concentrate on charitable causes as Labour thinktank Progress says it will turn to members to make up its shortfall. He is also a Member of the World Presidents' Organization, the Global Leadership Foundation and was on the Advisory Board of the British Olympic Association for the London 2012 Olympic Games. From 1992 to 1997, he served as chairman of Sainsbury's, the supermarket chain established by his great grandfather John James Sainsbury in 1869. In October 1997 he was made a life peer, becoming Lord Sainsbury of Turville. ", "SAINSBURY FACES INQUIRY ABOUT 2m LOAN - FT.com", Ministers quizzed in donor probe. In the first nine months of 2022 alone, the figure stood at more than 2.7m. He sat in the House of Lords as a member of the Conservative Party. The Mail on Sunday reported that the value of his shares in the biotech company . [23][24], Sainsbury funded the "Remain" side of the 2016 European Union membership referendum campaign,[25] giving 2,150,000 to the Labour and 2,125,000 to the Liberal Democrats "Remain" campaigns. John Sainsbury, Lord Sainsbury of Preston Candover, who has died aged 94, was the driving force behind the family supermarket chain for 23 years as its determined chairman. He was appointed as Chancellor of Cambridge University in 2011. Stowe School. That does not include the latest 2m gift. Posted by ; jardine strategic holdings jobs; how to dominate a neighborhood with real estate farming . 251988 The Gatsby Charitable Foundation. He gained an MBA from the Columbia Graduate School of Business in New York in 1971 before becoming J Sainsbury's Finance Director in 1973, holding the position for 17 years. IN 1949 Alan Sainsbury returned to Britain from a voyage of discovery to the United States. John James Sainsbury (c.1844 - c.1928), co-founder of the Sainsbury's supermarket chain. Sainsbury's current CEO Simon Roberts described him as "one of the great retailers of his time". Sainsbury joined the Labour Party in the 1960s, but was one of the 100 signatories of the 'Limehouse Declaration' in an advertisement in The Guardian on 5 February 1981;[7] he went on to be a member of the Social Democratic Party (SDP) formed by the authors of the Declaration. He was also a member of the cabinet biotechnology committee, Sci-Bio, responsible for national policy on GM crops and foods, and as such . He left J Sainsbury in 1998 after being appointed as Minister of Science and Innovation in the UK Government. Born David John Sainsbury on 24 October 1940, he came into riches after. [33] By 2009 the foundation had given 660 million to a range of charitable causes. He is the founder of the Gatsby Charitable Foundation, and in 2003 received, on behalf of the Sainsbury family, the Andrew Carnegie Medal for Philanthropy. Sainsbury has given many millions over decades, but his last big gift to the general Labour pot was back in 2010. FT Alphaville Stacy-Marie Ishmael. For information about our privacy practices, please visit our He is a major donor to the University of Cambridge and, in 2011, was elected Chancellor of the University of Cambridge. He was an honorary fellow of his old college for many years. His name was John Davan Sainsbury. Lord Sainsbury was a regular donor to the Labour party for years but surprised Westminster by giving the beleaguered Lib Dems two donations totalling a massive 2.1million in 2016. In 1973 the company was floated on the stock market in what was described as the biggest flotation to that time, the family owning 85% of the stock, though that decreased substantially over time as shares were redirected to the familys web of charitable trusts and foundations. David Sainsbury began his professional career when he joined the UK retailer J Sainsbury plc in 1963. Lord John Sainsbury of Preston Candover was the president of Sainsbury's and also sat in the House of Lords as a member of the Conservative Party. [citation needed] He has argued that there are "far too many reshuffles", and that there were considerable benefits to his remaining in post for so long. David Sainsbury became Lord Sainsbury of Turville in October, 1997. The former chairman and chief executive of supermarket chain Sainsbury's, Lord Sainsbury of Preston Candover, has died aged 94, the company has announced. After the 1983 election, he prompted the party to give more priority to recruiting members and finding a firm financial base; he was by far the biggest donor to the party, and a trustee,[8] giving about 750,000 between 1981 and 1987. During John Sainsburys chairmanship all the remaining 82 counter-service branches were closed and 313 large supermarkets replaced the previous 244 stores. The Lord Sainsbury of Turville David Sainsbury HonFBA FMedSci HonFREng FRS. I have a life-long interest in education and have supported many projects in schools and universities through my Charitable Foundation. Learn more about MailChimp's privacy practices In 1996, Sainsbury's announced its first drop in profits in 22 years, and the first of three profits warnings during his chairmanship was issued. At this point, David Sainsbury, who had wanted to step down at the end of 1997, made a surprise announcement of his retirement as chairman to pursue his long-held ambition to have a career in politics, after "32 enjoyable and fulfilling years" working for Sainsbury's. David Sainsbury retains a sizeable shareholding in his family's supermarket chain (around 5.85%). Please complete the boxes below and click the submit button. In 2013 his book Progressive Capitalism: How to Achieve Economic Growth, Liberty and Social Justice was published. He received an M.B.A. from the Columbia Graduate School of Business in New York in 1971. John Davan Sainsbury,Baron Sainsbury of Preston Candover, born November 2nd 1927,died January 14th 2022,according to a statement from the British supermarket chain established by his. particularly during Covid-19", described in the list as "Philanthropist". Honorary Fellow. The equity interest in Sainsbury's held by the family as of May 2011 is 15%. Sainsburys last large donation to Labour was in 2016, when he gave the party more than 2m. His full title was The Lord Sainsbury of Preston Candover KG. He was elected Chancellor of the University of Cambridge in October 2011. Lord Sainsbury started working in his family's business in. David Sainsbury joined J Sainsbury plc in 1963 after graduating from King's College, Cambridge. Sign up to recieve our insights newsletter. He was a keen art collector and an influential advocate for the Contemporary Art Society, making a significant contribution to the organisation personally as well as through .