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Andy Bond steps down from his post as chairman of Asda.

He will also leave Walmart once its $2.4bn deal to acquire a majority stake in South Africa’s Massmart is complete, which is expected to be around the end of March.

CITY & CORPORATE

Andy Bond steps down from his post as chairman of Asda.

He will also leave Walmart once its $2.4bn deal to acquire a majority stake in South Africa’s Massmart is complete, which is expected to be around the end of March.

Bond was Asda chief executive
for five years before becoming chairman in April last year. Wal-Mart International president Doug McMillon highlighted the "tremendous growth" at Asda during Bond's stint in charge in an internal memo to staff.

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