Asda CEO Steps Down Early

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Asda (London) announced its Chief Executive Roger Burnley has officially stepped down from his position six months ahead of schedule, reports Reuters. There is no successor in place.

About a month after being bought by Bentonville, Ark.-based Walmart by a private equity-backed deal in February, joint owners TDR Capital and brothers Zuber and Mohsin Issa announced Burnley would depart the company after Asda had fully transitioned to its new owners and a successor was named. Despite this, Burnley is now on “gardening leave.”

In a statement from TDR and the Issa brothers, it was said, “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.”

The search for Burnley’s replacement is ongoing and no reason was given for Burnley stepping down. Burnley had been CEO of Asda since 2018.

VMSD Staff

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