Asda CEO to step down following takeover

Asda has announced that its CEO and president Roger Burnley is to leave the company following the British supermarket chain’s takeover in October 2020. Burnley, who joined the company in 2018, will be leaving the business next year “after the supermarket has transitioned fully to new ownership and once his long-term successor is in place”. Billionaire brothers Zuber and Mohsin Issa and private equity firm TDR Capital last month completed their acquisition of Asda from Walmart for 6.8 billion pounds. “My decision to leave Asda is personal and something I wanted to communicate to my colleagues as soon as I could,” Burnley said in a statement. “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.” He continued: “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.” Search starts for next Asda CEO The new owners said in a joint statement: “Roger 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.” Last month, Asda announced plans to cut thousands of jobs as part of a new transformation “in response to the changing demands of the retail sector”. The company said it had entered into formal consultations with around 5,000 colleagues potentially impacted by the proposals out of a total workforce of 145,000. Asda also said it plans to create around 4,500 new roles in store-based online operations across the country in response to an increasing number of customers shopping online. That news came just days after media reports emerged that Asda’s new owners were considering spinning off the company’s George clothing brand as they look to cut costs and spending. The owners are considering licensing George or introducing more fashion partnerships to Asda’s shops to use excess space because the brand is outside their area of expertise, The Times reported, citing senior industry sources. Imaget: George at Asda
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