Asda CEO Switches to Become Part-Time Chairman
Asda has recently had the most successful period in its history, revealing that 2009 was its best-ever year, capping 15 straight quarters of market outperformance and beating all its sales and profit targets, despite a very challenging economy.
13 Apr 2010 --- Walmart has announced that Andy Bond will be leaving his role as President and CEO of Asda and is moving to a new role as Chairman of Asda’s Executive Committee. The company said it was its intention to appoint a new CEO for its UK business soon. In the interim, Andy will remain as CEO and be responsible for day-to-day management of Asda. His new role will be part-time and his responsibilities will include the smooth transition of the new CEO.
During his tenure as President and CEO, Asda colleagues have accomplished tremendous growth in the Asda business. Asda has recently had the most successful period in its history, revealing that 2009 was its best-ever year, capping 15 straight quarters of market outperformance and beating all its sales and profit targets, despite a very challenging economy.
President and CEO of Walmart International, Doug McMillon thanked Andy for his leadership role in the development of the Asda business during his time as President and CEO and in other roles during his 16-year career at the retailer. “I am extremely proud of the management team at Asda and the contribution that each of our nearly 170,000 colleagues makes every day to serve our customer. We are very well positioned to continue to win in the UK market.”
Speaking to colleagues today Andy Bond said, “I’m very proud to have led Asda for the past five years and helped it find a new confidence to serve its customers better. We have a strong leadership team that’s fully engaged in the business, and I’m looking forward to working with the new CEO to build upon the foundation we’ve put in place for continued success.”
Later this week Andy and the Asda executive team will lay out the strategic framework for achieving growth, leverage and returns at Asda at an analyst field trip at its home office in Leeds.
