Reuters/Mary Turner
- Mike Coupe, CEO of the UK-based supermarket chain Sainsbury's, was caught on tape singing "We're in the money" before a live TV interview on Monday.
- Sainsbury's has announced a merger with Walmart-owned UK supermarket chain Asda. Walmart will have a 42% stake in the combined companies.
- Coupe later apologized.
Sainsbury's CEO Mike Coupe might've chosen a different song to sing between TV interviews if he wanted to avoid scrutiny.
The UK supermarket CEO was caught on camera by British broadcaster ITV singing a popular show tune, "We're in the money," from the musical "42nd Street." The ensuing interview was about how his company had just entered into an agreement to merge with a competing grocery chain, the Walmart-owned Asda.
Walmart would get a 42% share of ownership in the combined company and a payment of over $4 billion in cash. Sainsbury's said the $10 billion deal would save the company almost $700 million a year, and its shares rose after the news of the merger hit.
Coupe released a statement of apology for his song choice.
"This was an unguarded moment trying to compose myself before a TV interview," he said to ITV. "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."
The song's timing left some wondering whether it was chosen purposely. A spokesperson for Sainsbury's told the Guardian that "to attach any wider meaning to this innocent, personal moment is preposterous."
To watch the entire moment, see below.
Sainsbury's CEO caught on film singing 'we're in the money'
- The Telegraph (@Telegraph) April 30, 2018
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