LONDON (Reuters) - British grocer Sainsbury's (L:SBRY) plans to drop PricewaterhouseCoopers (PWC.UL) as its auditor this year and replace it with rival Ernst & Young [ERNY.UL], it said on Friday.
Sainsbury's said its board will recommend the change to investors for their approval at its annual shareholders' meeting in July.
It said the move follows a formal tender process.
Sainsbury's said PricewaterhouseCoopers will audit the results for the year to March 14 2015 before Ernst & Young takes over.