Asda confirms departure of CEO Roger Burnley
Asda has announced that CEO Roger Burnley has stepped down from the business following completion of a transition period under new ownership.
Brothers Mohsin and Zuber Issa bought a majority stake in Asda with with private equity firm TDR Capital, for £780m, valued at £6.8bn, in a leveraged deal in February 2021.
A process to recruit Roger’s replacement is ongoing, with further announcements regarding his long term replacement and some additional appointments expected in the coming months.
In the interim, Mohsin and Zuber will work closely with the Asda team on the execution of Asda’s strategic vision.
Mohsin Issa CBE and Zuber Issa CBE and TDR Capital, said: “The Asda business has proven its resilience over the last eighteen 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.”
In a previous statement to Asda colleagues, Roger Burnley said: “My decision to leave Asda is personal and something I wanted to communicate to my colleagues as soon as I could."
In February it was reported that the new owners are considering a spin-off of the supermarket's George fashion business.