// Roger Burnley leads steps down as Asda CEO ahead of schedule after completed takeover
// He was initially meant to step down in 2022 when a successor was found
// Asda says a recruitment process was still under way but a transition period for the CEO role was now complete
Asda chief executive Roger Burnley has left the supermarket giant following the completion of its £6.8 billion takeover.
Burnley announced plans to step down as chief executive in March but originally said he intended to stay at Asda until 2022 when a successor is in place.
The Big 4 grocer said today that he has now left his role after a “transition period” under the retail giant’s new owners.
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Asda added that a recruitment process was still “ongoing” to find his replacement in the top job at one of the UK’s largest private employers.
It comes after the billionaire Issa Brothers behind forecourt giant EG Group and private equity backer TDR Capital completed an acquisition of Asda earlier this year.
The company said it looks forward “to making a further announcement regarding his long-term replacement and some additional appointments”.
M&S Food chief Stuart Machin and Morrisons’ chief operating officer Trevor Strain have been linked with taking the chief executive role after Burnley.
Asda added that, in the interim, Mohsin and Zuber Issa would work closely with Asda’s leadership team to help drive the supermarket chain’s new strategy.
In a statement, the brothers said: “The Asda business has proven its resilience over the last 18 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.”
Asda was previously owned by Walmart, which retained a seat on the board after the takeover was complete.
with PA Wires