After the completion of the PS6.8bn acquisition by the Lancashire-based Issa Brothers, Asda’s chief executive has resigned.
Roger Burnley announced his intention to resign as chief executive in March, but originally he was to continue in the post until 2022, when a successor would be in place.
According to the PA news agency, the supermarket stated that he had resigned from his position after a transition period under new owners.
Asda said that the recruitment process for his replacement at the top job at the UK’s largest private employer is ongoing.
It comes after the billionaire Issa Brothers behind forecourt giant EG Group and private equity backer TDR Capital completed an acquisition of the Leeds-based retailer earlier this year.
According to the company, it is looking forward “to making another announcement about his long-term replacement as well as some additional appointments”.
M&S Food chief Stuart Machin, and Morrisons chief operating officer Trevor Strain were linked to the role of chief executive after Mr Burnley.
Asda stated that Mohsin and Zuber Issa would work closely with Asda’s leadership team in the interim to drive Asda’s new strategy.
The brothers released a statement saying that Asda has shown its resilience over the past 18 months and has a strong platform for future innovation and growth.
“We have mutually decided with Roger that it is now the right time for him and the business to be sold after a transition period.
Roger’s leadership and contributions during his time at the business, especially the past year, are greatly appreciated.
“We are proud to have more than 140,000 colleagues at Asda. We look forward to supporting them in delivering for our customers in second half of the year.”
