- Coupe later apologized.
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CEO of supermarket chain caught singing 'We're in the money' after $10 billion deal with Walmart (WMT)
Sainsbury's CEO Mike Coupe was caught on film singing a song to himself before a live TV interview.
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.
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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 "t
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