Former Asda CEO and President Andy Bond has stepped down as Chairman of the retailer to focus his attention on Walmart’s acquisition of Massmart in South Africa.
Once this assignment is completed he will leave the Walmart group to concentrate on other business endeavours.
Bond left his position as CEO of Asda in April 2010 and took on the chairmanship part-time in order to help new incumbent Andy Clarke settle in.
In internal notes to Walmart and Asda staff, President and CEO of Walmart International Doug McMillon praised the retail boss for his tenure at the UK’s second largest supermarket.
He said that Bond is “a brilliant merchant, a strong leader and an effective manager and, most recently, has been and will continue to be instrumental in our efforts to acquire a majority stake in Massmart”.
Clarke thanked him for his help during the accession process, adding: “Asda is what it is today, because of his leadership.”
Various future business opportunities will certainly be available to Bond, who became non-executive director of online bike retailer Wiggle last August.