John Walden is to step down as boss of Argos-owner Home Retail to make way for Sainsbury’s finance chief John Rogers, it emerged earlier today.

John Walden talks to Retail Week

It comes as the grocery giant is in the process of acquiring Home Retail as part of a £1.4bn deal.

Below is Walden’s parting letter to staff in full:

John Walden letter 1

John Walden letter 1

John Walden letter 2

John Walden letter 2

John Walden letter 3

John Walden letter 3

John Walden letter 4

John Walden letter 4