Wednesday 20 November 2019

WATCH: Sainsbury's CEO caught on film singing 'we're in the money' before Asda merger interview Newsdesk

The CEO of Sainsbury's has apologised after he was caught on camera singing "we're in the money" following the Asda merger announcement.

In the wake of the £12 billion deal between the two grocery giants, Mike Coupe was filmed by ITV News singing some of the musical theatre tune in between interviews.

Mr Coupe sang "we're in the money, the sky is sunny, let's lend it, spent it, send it rolling along" and appeared to look down the lens of the camera at one point as he did so.

He said in a statement following the revelation that it was "an unguarded moment" as he tried to compose himself before a television interview.

"It was an unfortunate choice of song, from the musical 42nd Street which I saw last year and I apologise if I have offended anyone," Mr Coupe added.

Asked by Channel 4 News whether he will personally be in the money as a result of the merger and what is in it for him, he said: "I am a big shareholder in Sainsbury's, my shareholding is a matter of public record, you can see how many shares I own.

"It is unfortunate I was caught singing, as I say I was relaxing at the time - this is an incredibly stressful day and maybe it was an unfortunate choice of song."

PA Media

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