London agent Dexters has appointed a one of the UK’s most achieved businessmen, Justin King CBE, as Chairman.

King has held senior positions at major retail companies such as Marks & Spencer, Asda, Häagen-Dazs, PepsiCo and Mars. He is credited for turning around Sainsbury’s, during his decade-long tenure at the iconic British grocer.

He will work closely with Andy Shepherd, CEO and founder of Dexters, as the group seeks to accelerate its growth from its existing London-wide network of over 70 offices, and further develop its digital capabilities.

Commenting on his appointment, Justin King said, “I am delighted to be joining Dexters at this exciting stage in their development. The group is in a strong financial position reflected by consistent annual revenue growth, strong operating profits, good cash reserves, and proven strategy for expansion through acquisitions, new office openings, and investment in digital development.”

The group is in a strong financial position reflected by consistent annual revenue growth, strong operating profits, good cash reserves, and proven strategy for expansion through acquisitions.”

Under his leadership, Sainsbury’s delivered a shareholder return of 85 per cent and tripled profits. Before joining Sainsbury’s, Justin was the Head of Food at Marks & Spencer and is also known for helping to transform Asda into a market-leading business.

His appointment is hoped to replicate such success and signals a first step on a road to a flotation of the group and its presentation to the City, although this has not been confirmed by Dexters.

Dexters has grown to be one of the leading agents in London over the last 25 years, largely by acquisition. Parallels can be drawn with the meteoric rise of Foxtons as a London-centred super-agent.

Andy Shepherd, CEO, said, “We are extremely pleased that Justin King has chosen to join Dexters as our new independent Chairman.

“Dexters is respected and trusted by both Londoners and international customers and clients. Our ongoing office expansion has created a strong foundation for further investment into the business and our people.”

In 2013, Justin King was named Most Admired Business Leader by Management Today as well as Britain’s Most Impressive Businessman in the IPSOS-MORI Captains of Industry Report.