Supermarket giant Asda has announced that CEO Roger Burnley has stepped down from the business six months earlier than expected, following completion of a transition period under new ownership.
Burnley has been CEO of the business since January 2018, having joined in 2016 as deputy CEO.
A process to recruit Burnley’s replacement is ongoing and there will be a further announcement regarding his long term replacement and some additional appointments.
In the interim, Asda's owners, Mohsin and Zuber Issa will work closely with the Asda team on the execution of Asda’s strategic vision.
Last year, the brothers and private equity firm TDR Capital bought Asda from Walmart for £6.8bn. Only weeks later it was announced that Burnley would be leaving the firm in 2021, once a long-term successor was in place.
The brothers and and TDR Capital stated, “The Asda business has proven its resilience over the last eighteen months and has a strong platform in place for further innovation and growth.
'We have mutually agreed with Roger that now is the right time for him to step down from the business following a transition period under our ownership.
'We would like to thank Roger for his leadership and contribution during his time with the business, particularly during the last year.
'We have a great team of more than 140,000 colleagues at Asda, and we look forward to supporting all of them to deliver for our customers in the second half of the year.”