Asda chief executive to step down
Asda has announced that its chief executive and president Roger Burnley has decided to leave the business next year.
In a statement, the supermarket said he will step down once his successor is in place and when the business has made the full transition to new ownership under the Issa brothers and TDR Capital. However, previous owner Walmart still retains a minority shareholding.
Burnley joined the business as deputy chief executive in 2016 and became chief executive two years later.
He said: “My decision to leave Asda is personal and something I wanted to communicate to my colleagues as soon as I could. Whilst I remain fully committed to leading this great business for the next year and delivering our strategy, it is right to plan for a managed succession process well in advance.
“It has been a great privilege to play a leading role at Asda over the last five years – putting in place a clear strategy for long-term sustainable growth and doing the right things for our customers, colleagues and the communities we serve.”
Asda said a process will commence shortly to appoint a new chief executive who is able to commit to leading the business over the long-term.
Mohsin and Zuber Issa and TDR Capital said in a joint statement: “Roger and his team have protected and enhanced an exceptionally resilient business which we are proud to own. He will continue to lead Asda over the next year and deliver the strategy that he and his leadership team have set in motion, whilst at the same time working with us on identifying his successor.
“We are acutely aware of the responsibility we have in ensuring this great British brand continues to thrive for years to come – delivering great value products for customers, serving communities, and developing our colleagues.”
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