Asda boss Burnley to leave after Issa brothers takeover
Roger Burnley: ‘personal decision’
Asda chief executive Roger Burnley is to step down just weeks after the supermarket chain’s £6.8 billion takeover.
Mr Burnley, who took charge in 2018, has indicated to the new owners that he intends to move on but will stay in the job until a successor is found.
The Issa brothers and London private equity firm TDR Capital recently completed the acquisition of Asda from Walmart.
They have begun the search for a replacement for Burnley who worked for Sainsbury’s before moving to Asda where he grew its online sales performance.
However, he was unable to break the grip of the big two – Sainsbury’s and Tesco.
Mohsin and Zuber Issa last month they announced they would sell Asda’s petrol stations to their own EG Group in order to streamline the supermarket business.
In January the billionaire brothers hired the former Marks & Spencer boss Stuart Rose to chair their EG Group business.
Mr Burnley said: “My decision to leave Asda is personal and something I wanted to communicate to my colleagues as soon as I could.
“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.”
The Issas and TDR Capital jointly said: “Roger and his team have protected and enhanced an exceptionally resilient business which we are proud to own.
“We are acutely aware of the responsibility we have in ensuring this great British brand continues to thrive for years to come.”